Final answer:
The correct answer is the law of demand which states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. The correct answer is c) Law of demand.
Step-by-step explanation:
The law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. In other words, the higher the price, the lower the quantity demanded. The amount of a good that buyers purchase at a higher price is less because as the price of a good goes up, so does the opportunity cost of buying that good.
As a result, people will naturally avoid buying a product that will force them to forgo the consumption of something else they value more. The correct answer is c) Law of demand.