Answers 2027 Ignite Financial Literacy-Personal Finance - EL3403 The Law of Supply and DemandQuestion 3

3

QuizMultiple Choice

The Law of Supply and Demand

Question 3 • 2027 Ignite Financial Literacy-Personal Finance - EL3403

How do changing prices affect supply and demand?

Answer

A

As price increases, both supply and demand increase.

B

As price decreases, both supply and demand decrease.

C

As price increases, supply decreases, but demand increases.

D

As price decreases, supply decreases, but demand increases.

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