https://padlet.com/sbrechany1/31vidmu05n4 Respond to the following question (Please do not include your name) - Why should firms constantly review and adjust the price of the goods and/or services they sell? Think about your sentence/paragraph structure, selection of words (economics terminology) and use of examples. Make sure that you understand what the question is asking you and focus on answering the question. en-us 2017-06-01 03:44:22 UTC 2017-06-06 12:08:21 UTC hello@padlet.com garle22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175320212 Firms need to constantly review  and adjust the price of the goods and/or service they sell because of their consumers trends and preferences. If producers change what they sell the cost of production might change therefore they would have to consider the price to make a higher profit]]> 2017-06-06 04:22:52 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175320212 Mia_Cukrov https://padlet.com/sbrechany1/31vidmu05n4/wish/175320232 Firms constantly adjust the prices of their goods & services they sell because consumer trends and preferences change everyday or every week so they have to change what they sell and the prices of what they sell so that consumers are always willing and being able to pay for the items at a particular price and time. They work out what is a popular trend or preference at a certain time and have to base the prices off of that, and also whether they have competition at the time or how much things cost them to sell.]]> 2017-06-06 04:23:04 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175320232 chiae22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175320240
Firms should constantly review and adjust the price of the goods and services they sell because the producer/firm need to satisfy the consumers in order to keep there goods and/or services in the market. Not only that they need a profit so the price has to be adjusted. The change of the price is because of the producers profit and the demand of the good or service. Example: If the consumers has a demand in a good or a service the producer will to adjust the price due to the demands. ]]> 2017-06-06 04:23:11 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175320240 purts22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175320300 Firms need to constantly adjust the price of different goods and services. Firms find out what to dell based off trends and prefaces that consumers make or produce. They also  have to be able to sell there product at a reasonable price that consumers will find not to low but not to high either. ]]> 2017-06-06 04:23:45 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175320300 blaie22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175320387 firms have to constantly adjust the price of different goods and services. firms find out what to sell based off trends and prefaces that consumers make or produce.  They also have to be able to sell the product at a reasonable price that comsumers will find not to low  but not to high either.]]> 2017-06-06 04:25:06 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175320387 clarl22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175320447 Firms are always reviewing  and adjusting the price of goods and services because if firms make a product to high a price, consumers aren't going to be willing to pay the high price, but if the firms make the price to small, the firms won't make enough money to pay for all the recources and there will be a low supply and high demand so there will be a shortage.]]> 2017-06-06 04:25:53 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175320447 mache22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175320720 Firms should constantly adjust the prices at which they sell their goods at because ... consumers 
  have new taste and preferences all the time and other producers want to sell goods so they sell goods at Lower prices which creates competition. Also if consumers don't like the original price they will not buy which means no profit.]]> 2017-06-06 04:30:27 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175320720 frayl22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175320725 They constantly adjust their items because producers need to keep up with trend and preferences of consumers. Producers change the price of goods and services because of consumers demand and are able or willing to pay. ]]> 2017-06-06 04:30:31 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175320725 perer22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175320939 They keep changinge the price of their items because not many people are buying their items or it's to expensive so they put the price down and see how many people buy it if people buy it they put it a bit more up and see if it is getting sold if it is they might put it up or down depending on how many people consume it.]]> 2017-06-06 04:33:53 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175320939 vajdt22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322005 Firms are constantly changing and altering prices on their stock to respond to consumers tastes and preferences. When a certain item is trending they will increase the price because of consumers demand, what they are willing and able to pay. How ever when that item goes out of trend they will have to lower the prices because consumers will not be willing to pay it at full price. 

Competition will also affect the changes in prices due to the two ( or more ) companies competing to sell stock at the lowest price. If there is little competition the price will be fairly high because it will be one of the only places you can get that certain item. However if there is lots of competition that item will be selling for a very low price. The company that can sell the item for the lowest price will get the buyers. This is why competition is also really great for consumers.]]> 2017-06-06 04:46:14 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322005 perec22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322023 They change there price because not many people are buying because it's to expensive.they adjust there price Because the trends and preferences keep changing.they also change the price because consumers demand a price that they are willing to pay at a particular price and time.
Caelum]]> 2017-06-06 04:46:46 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322023 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322057 They change their prices because when people,]]> 2017-06-06 04:47:24 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322057 bijut22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322085 The reason why firms change the prices is because if the price is to high consumers won't be willing to buy the product and the firms will have a problem and if they make it to low they will won't receive profit and they won't be able to buy the recourses for the product.
It also depends on the trends and demand that happens ]]> 2017-06-06 04:47:58 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322085 lillw22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322088 Firms change the prices because the trends and preferences change. The consumer also has to be willing to pay for the good or service. This means that firms have to lower the amount if the get little or no income. But still trying to make a profit. An example is mc Donald's salad changing the menu in order to satisfy the needs and wants of the consumers. This way mc donalds will keep their business going. Jack.L]]> 2017-06-06 04:48:05 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322088 limk22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322094 2017-06-06 04:48:09 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322094 Noah_12 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322107 Producers change their prices based on consumer trends and preferences. The changes in demand may also change the prices depending on hjow much people are willing to pay. Competition is a ]]> 2017-06-06 04:48:22 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322107 limk22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322177 Firms are constantly changing to adjust to the consumers tastes and preferences. 

Keatyn]]> 2017-06-06 04:49:14 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322177 hanat22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322208 They change the price to suit the trends and preferences that the consumers set. If they do not change the price and the products go out of fashion they will not sell products and they will not make any profit. For example if a shoe shop was selling last yea]]> 2017-06-06 04:49:42 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322208 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322230 They change their price because based on the consumers trends and preferences. ]]> 2017-06-06 04:50:13 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322230 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322240 Firms change their prices due to the latest trends and preferences. They also do this because they know that if a trend is going strong and everybody wants it, they can put up the prices and the consumers will still buy them]]> 2017-06-06 04:50:27 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322240 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322241
Firms change their prices because of trends and preferences

]]> 2017-06-06 04:50:27 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322241 lante22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322284 Firms change to bring in more consumers as macdonalds did with a side salad so people would come more offen for a Heathy choice]]> 2017-06-06 04:51:13 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322284 menas22 https://padlet.com/sbrechany1/31vidmu05n4/wish/175322302 Firms change their price of their products because they are changing to the latest trends and preferences. Like maccas they changed to a healthier menu- sofia]]> 2017-06-06 04:51:27 UTC https://padlet.com/sbrechany1/31vidmu05n4/wish/175322302