GENERAL KNOWLEDGE

Detailed explanation-1: -Consumers are told that the consumption of cauliflower will significantly reduce the risk of cancer. Which of these scenarios is likely to happen in the cauliflower market? The demand curve will shift to the left and the price of cauliflower will fall.

Detailed explanation-2: -The law of supply and demand combines two fundamental economic principles describing how changes in the price of a resource, commodity, or product affect its supply and demand. As the price increases, supply rises while demand declines. Conversely, as the price drops supply constricts while demand grows.

Detailed explanation-3: -Demand is simply the quantity of a good or service that consumers are willing and able to buy at a given price in a given time period.

Detailed explanation-4: -The correct answer to the given question is option D. the law of demand. As per the law of demand, the price of a good or service usually has an inverse relationship with the quantity demanded. Thus, consumers tend to buy less of a good or service when its price increases and vice-versa.

Detailed explanation-5: -Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price.