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Brums [2.3K]
3 years ago
6

Acording to the law of demand, prince and quantity move

Social Studies
2 answers:
vichka [17]3 years ago
6 0

Answer:

According to the law of demand, the price of a good or service increases, and the quantity of a good or service will decrease. The law of demand states that. ... In other words, the higher the price, the lower the quantity demanded.

Explanation:

RSB [31]3 years ago
3 0

Answer:

According to the law of demand, price and quantity move along a track in the same direction.

Explanation:

The law of demand establishes that the greater the quantity demanded of a good, the higher its price will be, since more people want to have it. Therefore, the demand will be decided by who has the purchasing power to acquire said good.

The more scarce the good, the more demand there will be, therefore the higher its price.

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