Answer:
b. lower price increases the real incomes of buyers, enabling them to buy more.
Explanation:
The law of demand states that;
-the higher the price, the lower the quantity demanded.
- the lower the price, the higher the quantity demanded.
This law is true considering the fact that consumers tends to buy more when the price is low and vice versa.
One of the most important factor in determining the quantity demanded of a product is the price of the product itself. It means consumers tends to demand for more when the price is low.
When price of a product reduces, the real income of buyers will have effect thus enable them to buy more.
In 1929, ongoing economic issues led to B.a stock market crash. There was the stock market crash in the United States of America. This was the first signal for the coming Great Depression. The Wall Street crash happened in the month of October.
Answer: President Obama makes a brief statement to the news media during a meeting ... lies the fallacy of the “surround myself with smart advisers” argument. ... in crisis management and a knack for hiring the right people to effectuate his policies. ... (Washington, Ulysses S. Grant, Zachary Taylor) or held important ...
Explanation:
When quantity supplied is greater than quantity demand, the condition that needed for the price to reach equilibrium would be: The price of the product will decrease to meet equilibrium.
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