ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Alice orders he brother to turn down the loud music he is playing in his room
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Rico say he wants a new pair of in-line skates
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Shoes go on sale and Micheal buys two pairs instead of one
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None of these
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Detailed explanation-1: -Answer and Explanation: c. Consumers buy more personal computers because prices have fallen. According to the law of demand, the demand for commodity increases when the prices of a commodity decreases and demand for commodity decreases when the prices increase.
Detailed explanation-2: -Answer and Explanation: The correct answer is b. Resources are scarce when compared to the demand for them. Scarcity is an economic problem, and it is defined as the gap between the unlimited wants of individuals and limited resources in the economy.
Detailed explanation-3: -The relationship between the quantity demanded and the price is known as the demand curve, or simply the demand.
Detailed explanation-4: -Which of the following illustrates the effect of a decrease in an economy’s resources using a production possibilities curve (PPC)? The economy’s PPCPPC will shift inward and to the left.