Question

1) A low demand of a product equals _____.
higher prices
lower prices
the same price
none of the above
2) Supply is the only significant part of a market economy.
True
False
3) Demand is the only significant part of a market economy.
True
False

Answer 1

Answer:

1- lower price

2-False

3- True

Explanation:

Hope its true

Answer 2

1) A low demand for a product equals lower prices.

• When the demand is low or decreases, the price of the good falls with it. In instances when the demand for a good or service unexpectedly increases, it's natural to infer the price of the product will rise.

2) Supply is the only significant part of a market economy.

• False

3) Demand is the only significant part of a market economy.

• False

EXPLANATION OF (2) AND (3)

• There are two significant parts of the market economy which are Demand and Supply.
• Market economies depend on the interplay between supply and demand to process. “Demand” pertains to the number of goods and services people need or want. “Supply” pertains to the number of goods and services accessible for purchase.

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