The graph shows a demand curve.

Social Studies

2 answers:

Sunny_sXe [5.5K]3 years ago

7 0

Answer:

the more consumers want a product the larger will be the supply needed as well as the price they're willing to pay for it. The price of a product rises in demand and drops when nobody wants it. Also the scarcity of it influences this so the most expensive things are those that are rare, that is have a small supply, and yet are wanted by people a lot. If there's an abundance of something and it's not wanted then the price will be the lowest.

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Explanation:

Mashcka [7]3 years ago

6 0

More consumers want a product.

Think about it: the demand of the product increased.

The demand of a product is just what it sounds like - what is demanded. In this case, it is how much is demanded, or wanted.

Getting technical, a basic rule of economics is that price doesn't shift the curve, but even without knowing this, the answer can be figured out once you know what the demand of a product is.

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