Answers 2027 Ignite Financial Literacy-Personal Finance - EL3403 SpendingQuestion 9

9

QuizMultiple Choice

Spending

Question 9 • 2027 Ignite Financial Literacy-Personal Finance - EL3403

Why do prices increase when demand for a product is high?

Answer

A

Companies know they can make more money by selling fewer products at higher prices.

B

Companies know that people will be willing to spend more to get an in-demand product.

C

Companies take advantage of the demand to make people spend more money on excess products.

D

Companies know they can stop production and still make money on sales.

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