7
QuizMultiple Choice

The Law of Supply and Demand

Question 7 • 2102320-Economics HONORS - Edgenuity Teacher

According to the law of supply, price and quantity move

Answer
a
along a track in the same direction.
a
along a track in opposite directions.
f
from different points toward one another.
f
from the same point away from one another.

Explanation

The law of supply says that, other things being equal, a higher price leads producers to supply a greater quantity, while a lower price leads them to supply less. So price and quantity move in the same direction, as choice A states.

AI-written and checked against the verified answer.

Previous
Next