The ___ states that more of an item will be purchased at a lower price than at a higher price.

Question

William Hartman

Business

16 May, 16:44

The ___ states that more of an item will be purchased at a lower price than at a higher price.

+1

Answers (1)

Know the Answer?

Sadie · Answer 1

I think that a good phrase to fill in the blank space is "demand curve" or the "law of deman" - the demand curve portrays that if the prize is low, more goods will be bought than if the prize is higher - then people would want to buy less.

Graphically it is seen as a line that is higher on the left (when the x axis is the prize and the y axis is the demand)