(2 points)

Question

Put responses in the correct input to answer the question. Select a response, navigate to the desired input and insert the response. Responses can be selected and inserted using the space bar, enter key, left mouse button or touchpad. Responses can also be moved by dragging with a mouse.
The Response area describes the relationship between prices and demand. According to this law, higher prices encourage buyers to look for a substitute. A substitute is a roughly equivalent good or service. Finding substitutes drops demand for the original good or service, thus lowering prices over time. The Response area tells the relationship between price and quantity supplied. A rise in prices encourages producers to supply more of a good or service in the hopes of making more money.

Answer 1

It seems like you are looking for a way to organize information about the law of demand and the law of supply. Here’s how you can structure this information based on the relationships described in your input:

Law of Demand: Higher prices encourage buyers to look for substitutes, leading to a drop in demand for the original good or service, which may lower prices over time.

Law of Supply: A rise in prices encourages producers to supply more of a good or service in hopes of making more money.

You can now merge these concepts or place them in the relevant sections of your project or presentation as needed.