How hardware and software complementary to each other explain?
Hardware is the physical part of a computer, it is nothing unless it has a software to control it. Both are essential to get the work done and they share a special relationship. If hardware is the ‘ heart ‘ of a computer system, then software is its ‘ soul ‘. Thus, hardware and software are complementary to each other.
How would placing a price ceiling on tea influence the tea market?
The imposition of the ceiling price on tea causes a reduction in the quantity of tea bought, from Q1 to Q2 (left panel). Because of the quantity reduction caused by the ceiling, tea buyers would be willing to pay P3t for tea. So the price ceiling actually raises the opportunity cost of additional units of tea.)
How would the demand for computer software be affected by an increase in price of computers?
Because computer software is a complement to computers, the lower equilibrium price of computers increases the demand for software. Because typewriters are substitutes for computers, the lower equilibrium price of computers reduces the demand for typewriters.
What happens in the market for personal computer if the price of computer chips?
If the price of computer chips falls, the cost of producing computers declines. As a result, the supply of computers shifts to the right, as shown in Figure 22. The new equilibrium price is lower and the new equilibrium quantity of computers is higher.
Does hardware and software work together?
Computer hardware software works together. The software is loaded onto the hardware so you see how vital each system is and how they must work together for the computer to operate. This is especially important in the case of memory modules.
What is hardware and software?
Hardware is a physical parts computer that cause processing of data. Software is a set of instruction that tells a computer exactly what to do. It is manufactured. It is developed and engineered. Hardware can not perform any task without software.
Is coffee and tea complementary goods?
Doughnuts and coffee are complements; tea and coffee are substitutes. Complementary goods are goods used in conjunction with one another. Substitute goods are goods used instead of one another. iPODs, for example, are likely to be substitutes for CD players.
How does a surplus affect price?
Whenever there is a surplus, the price will drop until the surplus goes away. When the surplus is eliminated, the quantity supplied just equals the quantity demanded—that is, the amount that producers want to sell exactly equals the amount that consumers want to buy.
Are computers and software complementary goods?
Computers are complement to computer software. Suppose the price of a computer falls.
How do you think this affected the market for computers for computer software for typewriters?
computers increases the demand for software. The diagram below shows the result is a increase in both the equilibrium price and quantity of software. Since typewriters are substitutes for computers, the lower equilibrium price of computers reduces the demand for typewriters.
Are computers and software complements or substitutes?
Software is used in computers, so the two goods are complements. The technological advancement in computers would reduce the suppliers’ costs and…
What type of software interact with the hardware?
Operating system
Operating system (OS) – a software that controls and coordinates the computer hardware devices and runs other software and applications on a computer. It is the main part of system software and a computer will not function without it.
What makes up the hardware of a computer?
Hardware and Software Hardware and software form the main parts of any computing device. The physical parts of the computer make up the hardware, while the apps or programs is the software of any computing device. Furthermore, the hardware is often referred to as the machinery of the computer.
Are there any hardware and software related questions?
Hardware and software related questions are very common in computer aptitude exams. There is no fixed pattern from where you can prepare. Hence, it is important to know the basics. In this article, we will learn about the hardware and software parts of the computer.
What makes software not compatible with other hardware?
In short, a software designed for a particular hardware is not compatible with other hardware. For example, if we design software for Windows 7 then there might be a compatibility issue if we use it for Windows 10. A software developer creates software using a high-level programming language.
How are the software and hardware of a computer interconnected?
Hardware is the physical entity for both the hardware and software of the computer are interconnected to each other. A hardware cannot function without the software, while without the hardware, the software cannot perform the required tasks. The hardware performs simpler tasks as compared to the software. These tasks are independent of each other.