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Question 3 of 20

According to the law of demand, demand for a good will increase if:

A. the supply of the good increases.
B. the supply of the good decreases.
C. the price of the good decreases.
D. the price of the good increases.



Answer :

GinnyAnswer

Final answer:

The law of demand explains how a change in price affects the quantity demanded of a good or service.


Explanation:

Law of Demand

The law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. For example, if the price of smartphones increases, consumers tend to buy fewer smartphones. Conversely, if the price decreases, consumers may buy more.


Learn more about Law of Demand here:

https://brainly.com/question/32463907


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