7.6k views
0 votes
These would change what part of the market? A) Supply B) Demand C) Law of Supply D) Law of Demand

2 Answers

7 votes

im listening to my gut and it says....D! hope my gut is right lol

User Michal Harakal
by
8.5k points
7 votes

The correct answer is "B".

Demand is the actual need for a certain product or service in an economic system. When demand rises, prices rise due to the "scarcity" of the product, in other words, there is only a limited supply of it. The price of the demanded product will rise until the available amount of it (the supply) matches the existent demand.

User Julien Palard
by
8.4k points

No related questions found