The Law of Demand Answers

The law of demand states that as the price of a good rises, the quantity demanded of that good will [___] .

decrease✔ increase

✔ inelasticelastic

One factor that influences demand is a consumer's ability to buy a good. What is required for a consumer to have the ability to purchase a good?

Which factor affecting demand does this scenario illustrate?a change in the number of people in the population a change in the price of a substitute good from a rival soft-drink companya change in consumer tastes and preferencesa change in the price of a complementary good from a potato chip company

[___] As the price of flat-screen televisions decreases, the quantity demanded increases significantly.

As the price per pair of running shoes rises, the quantity demanded is [___] .

Question text not available

✔ inelasticelastic

80✔ 6040

100✔ 8060