The Law of Supply

Question 1

Products whose demand rises when another product’s price increases are called

Revolt · Accepted Answer

substitute goods.

Question 2

Which best explains how the law of demand affects consumers?

Revolt · Accepted Answer

It helps consumers tell producers when prices are too high. ✓ Correct

Question 3

most

Revolt · Accepted Answer

price.

Question 4

A demand curve shows how changes in

Revolt · Accepted Answer

prices affect the consumer demand. ✓ Correct

Question 5

best

Revolt · Accepted Answer

loss of income

Question 6

Which best summarizes how consumer demand changes?

Revolt · Accepted Answer

Consumer demand changes often based on many factors. ✓ Correct

Question 7

The graph shows a demand curve.The graph shows the demand curve shifting from D (orange) to D₁ (blue), with the new curve located to the left of the original curve.Which statement best explains this change?

Revolt · Accepted Answer

A decrease in demand caused by a fall in income or a fall in the price of a substitue good.

Question 8

The graph shows a demand curve.Which most likely accounts for the changes shown on the demand curve?

Revolt · Accepted Answer

More consumers want a product. ✓ Correct

Question 9

The law of demand applies most directly to which group?

Revolt · Accepted Answer

buyers ✓ Correct

Question 10

An example of complementary goods would be

Revolt · Accepted Answer

computers and printers.

The Law of Supply Answers

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