Question and answer
The law of demand states, all other things being equal, A.that goods will be supplied to just equal consumer demand. B.that consumer demand will determine the level of firm supply. C.that
consumers will buy more of a good if the price rises. D.that consumers will buy more of a good if the price falls.
One of the most important building blocks of economic analysis is the concept of demand. [ When economists refer to demand, they usually have in mind not just a single quantity demanded, but a demand curve, which traces the quantity of a good or service that is demanded at successively different prices. The most famous law in economics, and the one economists are most sure of, is the law of
demand. On this law is built almost the whole edifice of economics. The law of demand states that when the price of a good rises, the amount demanded falls, and when the price falls, the amount demanded rises. ]
Get an answer
Original conversation
User: The law of demand states, all other things being equal, A.that goods will be supplied to just equal consumer demand. B.that consumer demand will determine the level of firm supply. C.that consumers will buy more of a good if the price rises. D.that consumers will buy more of a good if the price falls.

Weegy: One of the most important building blocks of economic analysis is the concept of demand. [ When economists refer to demand, they usually have in mind not just a single quantity demanded, but a demand curve, which traces the quantity of a good or service that is demanded at successively different prices. The most famous law in economics, and the one economists are most sure of, is the law of demand. On this law is built almost the whole edifice of economics. The law of demand states that when the price of a good rises, the amount demanded falls, and when the price falls, the amount demanded rises. ]
Expert answered|nlewis123|Points 170|

User: If a type of clothing suddenly becomes fashionable, there will be a A.movement down this good's demand curve. B.movement up this good's demand curve. C.shift outward in the good's demand curve. D.shift inward of the good's demand curve.

Question|Rated bad
Asked 8/9/2013 9:12:56 AM
0 Answers/Comments
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
When the price of a complement for Good X rises, the demand for Good X ______________. A.increases B.decreases C.stays constant D.will decrease at first but increases over time
Weegy: When the price of a complement for Good X rises, the demand for Good X ______________. answer:B.decreases User: The relationship between price and quantity supplied is A.positive. B.negative. C.the same as the relationship between price and quantity demanded. D.nonexistent. There is no relationship between these two variables. (More)
Question
Expert Answered
Asked 8/9/2013 9:24:09 AM
0 Answers/Comments
21,554,374 questions answered
Popular Conversations
Financial statements should be prepared before any adjustments are ...
Weegy: Financial statements should be prepared before any adjustments are made. False. User: The credit side of an ...
7/4/2015 3:44:09 AM| 3 Answers
A chart of accounts does NOT include (Points : 1) assets. ...
Weegy: A chart of accounts does NOT include NAMES OF CUSTOMERS. User: Source documents provide objective, ...
7/4/2015 8:48:25 PM| 2 Answers
Profits from operating activities distributed to business owners are ...
Weegy: Profits from operating activities distributed to business owners are called dividends. TRUE. User: The ...
7/4/2015 3:55:42 AM| 1 Answers
Weegy Stuff
S
1
L
P
1
1
Points 127 [Total 1533]| Ratings 1| Comments 117| Invitations 0|Offline
S
1
Points 93 [Total 604]| Ratings 0| Comments 93| Invitations 0|Offline
S
Points 31 [Total 31]| Ratings 1| Comments 21| Invitations 0|Offline
S
1
L
L
Points 24 [Total 8404]| Ratings 0| Comments 24| Invitations 0|Offline
S
P
C
L
P
L
1
P
P
1
P
1
P
Points 13 [Total 9542]| Ratings 0| Comments 13| Invitations 0|Offline
S
R
Points 6 [Total 208]| Ratings 0| Comments 6| Invitations 0|Offline
S
L
P
P
Points 4 [Total 3563]| Ratings 0| Comments 4| Invitations 0|Offline
S
Points 4 [Total 4]| Ratings 0| Comments 4| Invitations 0|Offline
S
Points 1 [Total 1]| Ratings 0| Comments 1| Invitations 0|Offline
S
Points 1 [Total 44]| Ratings 0| Comments 1| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.