The true statement about supply and demand is:
When demand is high and supply is low, prices increase.
This is a fundamental principle of economics: when demand exceeds supply, prices tend to rise as buyers compete for the limited available goods.
Which statement about supply and demand is TRUE?
When demand is low and supply is low, prices increase.
When demand is low and supply is high, prices increase.
When demand is high and supply is low, prices increase.
When demand is high and supply is high, prices increase.
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