- is regulating force in the marketplace if the number of companies producing an item increases the price of the item will be -

Question

Arisa [49]

3 years ago

10

- is regulating force in the marketplace if the number of companies producing an item increases the price of the item will be -

than before. - people will buy the item because its cheaper

Social Studies

2 answers:

alexandr402 [8] · Answer 1 · 2022-04-18T08:45:41+03:00

alexandr402 [8]3 years ago

8 0

Answer: 1) competition 2) lower 3) more

Explanation:

KIM [24] · Answer 2 · 2022-04-18T06:29:21+03:00

Answer:the law of supply or supply; less; more.

Explanation:

The two regulating force in the marketplace are the law of demand and the law of supply. The law of demand is all about the fact that when there is higher price of goods and services, less people buy the goods and services and vice versa. While the law of supply is all about the higher the price of the goods and services, the higher the supply by manufacturers and vice versa.

One of the factors affecting supply is the numbers of competitors producing or offering the same goods and services. Just like the question, ''When the number of companies producing an item increases the price of the item will be LESS than before'' which means that MORE people people will buy the item because its cheaper.

Also people with LESS INCOME will buy the item because it is cheaper.