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Case Interview Prep

Category - Economics

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According to economists, goods and services prices reach an equilibrium in reaction to consumer demands and producer supplies. The following are factors that determine price fluctuations EXCEPT:

product lifecycle
wage stickiness
competition
cost & demand information

Explanation

Answer: B - Wage stickiness is not a determinant of price fluctuations.

Key Takeaway: The prices of goods and services are determined largely by market forces including consumer demands and producer supplies. Amongst the determinants of price fluctuations are the lifecycle of products, the presence of competitive forces in the market, and the availability of accurate information on costs and demands.

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