Question

Which best explains how the law of demand affects consumers?

It helps consumers know when prices are going down.
It helps consumers know when prices are going up.
It helps consumers tell producers when prices are too high.
It helps consumers tell producers when to make new goods.

Answer 1

c

Step-by-step explanation:

took the quiz

Answer 2

The law of demand effects consumer as

It helps consumers tell producers when prices are too high.

Step-by-step explanation:

The law of demand is a microeconomics concept where it is stated that "conditional on all else being equal, as the price of a good increases, quantity demanded decreases; conversely, as the price of a good decreases, quantity demanded increases".

According to this law thus, it helps costumer to understand which property is high on demand and thus will have high prices and which products having a lower price could be in less demand but it does not really translate to how good the product is.