1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Free_Kalibri [48]
3 years ago
15

When the price of a good changes, what effects tend to create the law of demand?

History
1 answer:
quester [9]3 years ago
6 0

theres no answer choices butttt there are 3effects that explain the law of demand.

Income effect - As the price of a good increases, people purchase less quantity because they are limited by the amount of income they earn. Since it's not allowed to change, they are forced to purchase less.


Substitution effect - As the price of a good increases people purchase less quantity because they will switch to a now "relatively" cheaper substitute. The price of the substitute isn't allowed to change, so people buy more of it and less of the original.


Law of D.M.R. - As you acquire more of a good, the value of each unit decreases. Because the value is decreasing, so is the amount you are willing to pay leading to an inverse relationship between price and quantity demanded.

sorry its a long answer i dont mean to be that one person

You might be interested in
Who appoints the secretary of each of the cabinet departments in Louisiana's executive branch?
barxatty [35]

Answer:

I think the answer is: the governor

Explanation:

5 0
2 years ago
Read 2 more answers
Why does the ring of fire have more volcanoes than anywhere else on earth?
kotykmax [81]

Answer:

The abundance of volcanoes and earthquakes along the Ring of Fire is caused by the amount of movement of tectonic plates in the area. Along much of the Ring of Fire, plates overlap at convergent boundaries called subduction zones. ... A significant exception is the border between the Pacific and North American Plates.

6 0
3 years ago
Read 2 more answers
Why did the Second Continental Congress<br> draft the Declaration of Independence?
AnnZ [28]

Answer:

The Second Continental Congress issued the Declaration of Independence

because they wanted colonists to be on the side of America. They also wanted encourage foreign nations to help them gain their independence from Britain.

Explanation:

8 0
3 years ago
Which of the following were not considered new weapons of war
Alina [70]
What are the choices?
7 0
3 years ago
What were the basic industries of America’s Industrial Revolution? What made the men who controlled them so successful?
aalyn [17]
I can answer the second part the men that controlled them paid very little lots of work hours and no vacations so they made a lot of money while the people made very little
7 0
3 years ago
Other questions:
  • Which of W.E.B. DuBois's views on race differed from the views of Booker T. Washington?
    10·1 answer
  • What decision do you think slave owners wanted the Supreme Court to reach? Why?
    8·2 answers
  • What did President Lincoln risk if he chose not to resupply Fort Sumter?
    12·1 answer
  • Historians disagree about the effectiveness of the New Deal. Which is not an argument historians present?
    15·2 answers
  • What are weak proper rights
    6·1 answer
  • Why did france , england and spain send ships to mexico in 1861?
    12·1 answer
  • Black Codes was a name given to laws passed by southern governments established during the presidency of Andrew Johnson. These l
    9·1 answer
  • What did the independence of South Africa from Great Britain cause to happen?
    15·1 answer
  • [HELP]<br> Who joined the continental army after Saratoga?
    8·2 answers
  • Match the Civil War Battle with the reason it is significant
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!