When a Daycare Center Looks at the Recent Increase in the Number

question 118

True/False

When a daycare center looks at the recent increase in the number of working mothers in its area to determine how many employees to hire,this is an example of studying demographic forces.

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Definitions:

Equilibrium Price

The market price where the quantity of goods supplied is equal to the quantity of goods demanded.

Cost

The amount of money, time, and resources associated with producing or acquiring goods and services.

Producer Surplus

The difference between what producers are willing to sell a good for and the price they actually receive, reflecting their benefit.

Equilibrium Market Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded.