Question

When a fruit or vegetable (such as strawberries or lentils) is in season, the demand for it will increase as it becomes cheaper.

Answer 1

Answer:

The correct answer is False.

Explanation:

The law of demand states that a higher price results in a lower quantity demanded, and that a lower price leads to a greater quantity demanded.

An increase in the price of a good or service almost always decreases the quantity demanded of that good or service. Conversely, a price drop will increase the quantity demanded. For example, when the price per liter of gasoline increases, people look for ways to reduce their consumption by combining several chores, moving in a shared vehicle or on public transport, or spending the weekend and vacations in places near their home. Economists call this inverse relationship between price and quantity demanded law of demand. The law of demand assumes that all other variables that affect demand remain constant.