Asked by Tim
1. If a product becomes more easily available, what is likely to happen?
A) The product will get more competitors.
B) The cost of making the product will increase.
C) The product will become a consumer good.
D) The price will go down.
Is the answer D? I'm not really sure, so help would be appreciated. Thank you.
A) The product will get more competitors.
B) The cost of making the product will increase.
C) The product will become a consumer good.
D) The price will go down.
Is the answer D? I'm not really sure, so help would be appreciated. Thank you.
Answers
Answered by
Tim
Or is it B?
I'm kinda confused here. Either ones could technically happen. the price could go down if no one was buying the product. BUT if people were buying the product due to how easily available it was, the price could go up.
I'm kinda confused here. Either ones could technically happen. the price could go down if no one was buying the product. BUT if people were buying the product due to how easily available it was, the price could go up.
Answered by
Writeacher
I think you were right the first time. Another tutor may have different ideas.
http://www.google.com/?gws_rd=ssl#q=supply+and+demand
http://www.google.com/?gws_rd=ssl#q=supply+and+demand
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