Which statement explains why prices rise in a market?

Producers produce a quantity greater than consumers want to buy.

There is excess demand in the market.

Consumers buy much less of a good than they have in previous years.

New producers enter the market.

Question

Gerardo Mata

Social Studies

5 June, 22:13

Which statement explains why prices rise in a market?

Producers produce a quantity greater than consumers want to buy.

There is excess demand in the market.

Consumers buy much less of a good than they have in previous years.

New producers enter the market.

+1

Answers (1)

Know the Answer?

Ronald Booth · Answer 1

The correct answer is There is excess demand in the market

Demand means the amount of a good or service that consumers want to buy for a set price in a market. Demand can be interpreted as demand, but not necessarily as consumption, since it is possible to want and not to consume a good or service for various reasons.

Which statement explains why prices rise in a market?Producers produce a quantity greater than consumers want to buy.There is excess demand in the market.Consumers buy much less of a good than they have in previous years.New producers enter the market.

Which statement explains why prices rise in a market?

Producers produce a quantity greater than consumers want to buy.

There is excess demand in the market.

Consumers buy much less of a good than they have in previous years.

New producers enter the market.