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Alinara [238K]
3 years ago
13

Which best explains how the law of demand affects consumers?

Social Studies
2 answers:
jek_recluse [69]3 years ago
8 0

It helps consumers tell producers when prices are too high.

Vlada [557]3 years ago
5 0

The law of Demand and Supply states the price for a certain good will reach equilibrium when it represents the maximum amount the common customer is willing to pay for a determined good or service. In other words, when a product is subject to growing demand, this will probably mean that the price will rise until demand meets supply at a determined price (equilibrium price). If a seller puts a price above the "equilibrium" price, the consumer will either shift to a substitute product or desist in buying a product completely.

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