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brilliants [131]
3 years ago
9

What is the term used to describe the way the behavior of buyers and sellers affects the level of prices for goods and services,

without government interference?
Social Studies
1 answer:
dimulka [17.4K]3 years ago
8 0

Answer:

The term used is "law of supply and demand".

Explanation:

The law of supply and demand is the term used to describe the relationship between buyers and sellers that results in changes in the price of products and services, without government interference.

This law states that when buyers look for the same product in large quantities, it means that there is an increase in demand and a decrease in supply, which makes the price of the product more expensive.

On the other hand, when buyers are looking for a product less, the demand is lower and the supply is higher, causing the price of that product to decrease.

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