ECONOMICS CONCEPT ON RELIANCE TRENDS

01)  LAW OF DEMAND - 

Law of demand refers that when price of any goods and services increases then demand of goods decreases but when price of any goods decreases then demand of goods increases.

Example –

When price of product of reliance trends decrease the demand of product increases.

02) OPPORTUNITY COST –

Opportunity cost is the value of any product and services which we lost or give up to get another choice or it is the value of next best alternative choice.

Example-

When customer come to shop and purchase something before that they sacarifies some other cloths so the value of next best alternative of cloths is called opportunity cost.

03) MONOPOLISTC COMPETITION MARKET –

 In monopolistic competition market firms have many competitors, but each one sells a slightly different product.

Example – Reliance trends also belong to monopolistic completion market it is a clothing shops in market there are several clothing shops available but the product of of each firms are different .

04) MOBILITY FACTOR - 

Factor mobility refers to the situation to move factors of production or change factor of production like - labour, capital , land ,place .

Example –

reliance trends can move one place to another place if on that place there is less profit or they can change labour/employe , capital etc.

05) ECONOMIES OF SCALE

Economic of scale refers to the situation when a firm increases his output in the long run his output per unit cost will decrease.it is called Economic of scale.

Example-

Reliance trends increase his output in the long run so that, his output per unit cost decreases .