Question

In the long term, if the population increases greatly, which of the following will occur?

Answer 1

Answer:

In the long term, if the population increases greatly, supply and demand will be equivalent.

Explanation:

Supply and demand are the two components of the market for goods and services, where one party offers consumer goods and the other decides whether to consume them or not.

In the case of strong population growth, as long as the conditions of stability are maintained, supply and demand will grow exponentially, thus maintaining the same parameters of supply and demand but to a greater number of people: if with a population of 10,000 people, the number of suppliers is 10 suppliers, which offer 100 units of product to 1000 people; In case of a population increase to 50,000 people, the number of bidders will tend to reach 50, which will offer 500 units of product to 5000 people willing to buy them.

This is because supply and demand are elastic, and once the market equilibrium point is reached they tend to accompany the processes of population growth or decrease without significantly altering the equilibrium percentages.

Answer 2

Supply will most likely decrease or it could stay the same so between those two answers