1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
finlep [7]
3 years ago
12

The law of demand results from which two patterns of behavior?

Social Studies
2 answers:
ludmilkaskok [199]3 years ago
6 0

The correct answer is the following: "substitution effect and income effect".

The demand function represents the quantity of a certain good or service that consumers are willing to purchase in the market at different price levels. The law of demand states that there is an inverse relationship between price and quantity demanded (ceteris paribus, hence, given that the rest remains equal). <u>Therefore, when the price charged increases, the amount that consumers are willing to offer decreases.</u>

The variation of the quantity, due to the price variation, takes place because of the joint incidence of two effects: the effect of the variation of the relative price if compared to other goods (<u>substitution effect</u>) and the effect on the consumer's income as, if the price of a desired or purchased product has increased, the consumer's available income will decrease (<u>income effect).</u>

Dominik [7]3 years ago
6 0

Answer:

substitution effect and income effect

Explanation:

Simply put, the law of demand states that if all other factors remain constant, if a price of a good is higher, fewer people will demand it. As the price of this good falls, the amount of good that the market will demand will increase. That is, the law of demand indicates that under normal conditions in a market, the quantity demanded is inversely proportional to the price of the good in question. That is, if a product has a low price, it will probably have a great demand.

Accordingly, we can state that the law of demand results from the substitution effect and the income effect.

You might be interested in
Researchers found that people were _____ in assessing hiv risk status of their partner early in a relationship and they became _
Nastasia [14]
The correct answer is the second option, <span>overconfident; even more overconfident.

According to findings made from research, it has been shown that most people are generally overconfident </span><span>in assessing HIV risk status of their partner. Furthermore, for most people, the level of overconfidence was shown to increase as the relationship develops.</span>
8 0
3 years ago
Formulate
viktelen [127]
<span>Chemical element molecules that are in  the form of crystalline solids are called minerals.Thus, each mineral is a molecule of a specific element. Changing the base molecule, in other  words, the base molecule element causes a change in mineral properties, like color and structure of the mineral. </span><span />
6 0
3 years ago
Write a short note about the relation between the UAE with African countries
Burka [1]

WRITE A SHORT NOTE ABOUT RELATION BETWEEN THE UAE WITH AFRICAN COUNTRIES

“His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, stated that the UAE has prioritised its relations with African countries based on mutual respect and common interests, to achieve the aspirations of their peoples for development, progress and prosperity.”

“The UAE has made progress in this goal over the past years, deepening its overall relations with African countries, he added.”

HAVE A GOOD DAY!(ʘᴗʘ✿)

#ayessa

6 0
3 years ago
When listening to a careful discussion and debate covering the pros and cons of a given issue, research suggests that people who
irinina [24]
People in the "pro" side would say what's good about whatever the topic is.
6 0
3 years ago
Explain who the jewish prophets were
notsponge [240]
The only prophet that lead jewish people was Prophet Musa or Moses. He was sent to lead those people and he was attacked by the egyptian king. Hope this helped! ^-^ Please tell me if you need more information.
3 0
3 years ago
Other questions:
  • Social learning theories help us understand that
    9·2 answers
  • Which social thinker won the Nobel Peace Prize in 1931?
    10·1 answer
  • Garcia and koelling's findings on taste aversion in rats challenged the previously accepted principle that:
    9·1 answer
  • Miller (1989) found that in day care centers, _________ varied according to the socioeconomic status of the center's clientele (
    7·2 answers
  • To predict human behavior, it is best to supplement your intuitive opinions with information derived in what fashion?
    14·1 answer
  • A police officer stops a person on the basis of reasonable suspicion. The officer also has reasonable suspicion to believe the p
    5·1 answer
  • Explique con dos ideas las consecuencias, de que en lugares con una alta biodiversidad (bosques, por ejemplo), la cantidad de ll
    5·1 answer
  • How the fourth and fifth amendments similar
    14·2 answers
  • I need 5 podcast idea's in order from least favorite to favorite
    14·1 answer
  • Which side of the political spectrum do liberals fall on? Conservatives? Republicans? Democrats? Which of these groups share sim
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!