Which explains the connection between the law of demand and excess demand?

2 answers:

7 0

The connection between the law of demand and excess demand is that law of demand states that it is stated that if the factors remain equal, the higher the price, the lesser consumer is going to be demanding for that good, whereas the excess demand is the exact opposite; the lower the price, the more demands you'll get.

gulaghasi [49]2 years ago

5 0

Correct answer choice is :

<h2>A) The law states that price decreases lead to greater demand and limited supply, which occur during excess demand.</h2><h2 /><h2>Explanation:</h2><h2 />

The law of demand states that conditional on all else being equal, as the price of a good increase, quantity demanded decreases; conversely, as the price of a good decrease, quantity demanded increases. The excess stock makes the price to fall and quantity demanded to rise. A reduction in supply will make an increase in the balance price and a decrease in the equilibrium amount of a good. Excess demand makes the price to rise and quantity demanded to decrease.

You might be interested in

The primary function of the probe is to: a. loosen up the respondent. b. get the correct answer from the respondent. c. get the

pentagon [3]

Answer:

c. get the respondent to answer a question more fully.

Explanation:

A probe is applied to promote conversation without affecting the answer. It is especially appropriate for open-ended questions. Probes are utilized more commonly in open-ended questions than in closed-ended ones. The basic function of a probe is to provide the respondent to answer the questions completely.

8 0

2 years ago

The difference between tropical and temperate climates is mainly the result of what?<br>

erastova [34]

Geographic location.
Tropical regions usually have average 65f or higher due to it being close to the equator. temperate climate usually varies, not too hot not too cold

5 0

2 years ago

What is a social worker

Anika [276]

A social worker helps families, groups, and individuals by improving their lives. they help people cope and overcome problems that they may have. they basically help with the person meeting their either simple or complicated needs, mostly people in poverty, oppressed, or even things like childcare.

3 0

2 years ago

NICKEL AND DIMED According to Ehrenreich, why don’t many low-wage workers look for better-paying jobs? A. They are cautious abou

irakobra [83]

Answer:

Explanation:

Transportation issues, and they cannot afford to go without pay because of housing etc.

5 0

2 years ago

Various strategic and regional trading syndicates have evolved to facilitate effective international trade. What are these syndi

dalvyx [7]

Trade blocs. One of the key words in the initial description is the idea of regional. Coordinating efforts to reduce trade barriers, including decreasing or eliminating tariffs are part of decision to make certain blocs or groups of trading syndicates more viable and strategic in international trade.

3 0

2 years ago

Read 2 more answers