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
Why is there difficulty in passing amendments to the Constitution?
KIM [24]

Answer:

The founders made the amendment process difficult because they wanted to lock in the political deals that made ratification of the Constitution possible. Moreover, they recognized that, for a government to function well, the ground rules should be stable. ... From 1870 to today, only 12 amendments have been enacted

Explanation:

8 0
2 years ago
What was the purpose of a<br> of a guild?
NeX [460]

Answer:

It was to protect each other, and people formed aliances which created the guild

Explanation:

They made these guilds to protect there products and that way everyone gained protection, not being in the guild back then meant you would be robbed and killed, so many joined the guild if a merchant.

Also if this is about videogames its kind of a clan      

6 0
3 years ago
How long did the One Hundred Year War last?
valentinak56 [21]
It lasted 116 years.
3 0
3 years ago
Read 2 more answers
The first people of<br> earth who moved wherever animals moved
ycow [4]

Answer:

Homo Sapiens or depending on how I understood your question, hunters and gathers

Explanation:

If it was wrong, I mean I'm here to help not cheat. :)

3 0
3 years ago
Does the sun have vitamins
Novay_Z [31]
The sun has Vitamin D
4 0
3 years ago
Read 2 more answers
Other questions:
  • How many win did the minnesota twins have in 2001?
    11·1 answer
  • Using complete sentences, explain the purposes and roles of international organizations.<br><br> .
    7·1 answer
  • How can illusions be a reason to why we can’t believe everything we see
    12·1 answer
  • Massive reserves of oil are found here
    15·1 answer
  • Which of the following was responsible
    12·1 answer
  • Why do you think Civics is a required course? Describe what it means to you to be a effective U.S. citizen?
    12·2 answers
  • When conquering the Americas, who focused
    15·1 answer
  • List two locations outside of Europe that battles occurred.
    15·2 answers
  • There are so many different income tax laws that sometimes people end up having too much or too little
    13·2 answers
  • How did the bombing of cities impact the homefront.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!