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The Law of Supply and Demand

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Questions and Answers

According to the law of supply and demand, what happens to supply as the price of a product increases?

Supply fluctuates

Supply remains the same

Supply increases (correct)

Supply decreases

According to the law of supply and demand, what happens to demand as the price of a product decreases?

Demand remains the same

Demand fluctuates

Demand increases (correct)

Demand decreases

What is the intersection of the supply and demand curves called?

Equilibrium (correct)

Supply and demand intersection

Price discovery

Market-clearing price

According to the law of demand, what happens to demand as the price of a product rises?

<p>Demand decreases</p> Signup and view all the answers

According to the law of supply, what happens to supply as the price of a product decreases?

<p>Supply increases</p> Signup and view all the answers

The Law of Supply and Demand

Choose a study mode

Podcast

Questions and Answers

According to the law of supply and demand, what happens to supply as the price of a product increases?

According to the law of supply and demand, what happens to demand as the price of a product decreases?

What is the intersection of the supply and demand curves called?

According to the law of demand, what happens to demand as the price of a product rises?

According to the law of supply, what happens to supply as the price of a product decreases?

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