1.) The law of supply is defined as the willingness of producers to supply more of a good as the price of the good decreases.

TRUE OR FALSE

2.) The Government wants to make as much profit as possible

TRUE OR FALSE

3.) As the supply of a product increases, the more money consumers will be willing to pay for the product

TRUE OR FALSE

Question

Marlee Heath

Social Studies

28 June, 13:12

1.) The law of supply is defined as the willingness of producers to supply more of a good as the price of the good decreases.

TRUE OR FALSE

2.) The Government wants to make as much profit as possible

TRUE OR FALSE

3.) As the supply of a product increases, the more money consumers will be willing to pay for the product

TRUE OR FALSE

+1

Answers (2)

Know the Answer?

Akira Hooper · Answer 1

the law of supply is said that when the price of an item goes up, the suppliers will try to maximize their profits by increasing the number of items that are sold. so number 1 is FALSE.

number 2 is true.

number 3 i am not sure but i feel that it is false.

As the supply of a product increases, the more it will cost.

Dorian Vaughan · Answer 2

1. False

2. True

3. False