1.

Social Studies

1 answer:

kolezko [41]3 years ago

4 0

Answer:

1. high

2. low

3. Adam Smith

Explanation:

Adam Smith, considered the "father" of modern economics defined the terms supply and demand to describe the dynamics between buyers, sellers, and prices. He believed in "laissez-faire" economics, which means that businesses should be allowed to conduct trade with as little government intervention as possible. This includes the freedom to sell their goods at whatever price they want. A supplier will always look to obtain the greatest profit, and in order to do so they will try to sell a product at the highest price. Consumers, on the other hand, will always want to buy a product for the lowest price. They law of supply and demand states that the higher the price of a product, the lower the demand (or willingness of consumer to purchase said product), and vice versa.

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Explanation:

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Explanation:

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3 years ago

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This is True.
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4 years ago

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Alina [70]

The correct answer is cognitive dissonance reduction

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