ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Is the exact replica of the Law Of Demand
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Reflects producers offering more of a good as its price increases and less as its price falls
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Has an inverse relationship with price.
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Reflects producers offering less of a good as its price increases and more of as its price falls.
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Detailed explanation-1: -What Is the Law of Supply? The law of supply is the microeconomic law that states that, all other factors being equal, as the price of a good or service increases, the quantity of goods or services that suppliers offer will increase, and vice versa.
Detailed explanation-2: -The law of supply states that there is a direct relationship between price and quantity supplied. In other words, when the price increases the quantity supplied also increases.
Detailed explanation-3: -The law of supply says that when prices rise, companies see more profit potential and increase the supply of goods and services. The law of demand states that as prices rise, customers buy less. Theoretically, a free market will move toward an equilibrium quantity and price where supply and demand intersect.
Detailed explanation-4: -Which statement best explains the law of supply? The quantity supplied by producers increases as prices rise and decreases as prices fall. How do changing prices affect supply and demand? As price decreases, supply decreases, but demand increases.
Detailed explanation-5: -The law of supply states that a higher price leads to a higher quantity supplied and that a lower price leads to a lower quantity supplied. Supply curves and supply schedules are tools used to summarize the relationship between supply and price.