A few days ago
Which one of the following statements is correct about the Law of Demand?
The choices are:
a) as the price of oranges decreases, the demand for oranges increases.
b) as the price of oranges increases, the demand for oranges increases.
c) as the price of oranges decreases, the quantity of oranges demanded increases.
d) as the price of oranges increases, the quantity of oranges demanded increases
e) as the price of oranges decreases, the demand for oranges shifts left.
This is an economics question, I believe the answer is ‘c’ but I’m wanting to double check myself. Any help would be greatly appreciated.
Top 1 Answers
A few days ago
Favorite Answer
I agree that c is correct. While letter a is also correct, c is the best answer when you want to depict an economic situation. It’s the perfect example of the “law of supply and demand”.
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