What takes place when buyers purchase more of a product when the price drops, and less when the price increases?
A) Demand
B) Laws of supply
C) Laws of demand
D) Degree of competition
E) Free market economy

Question

Quizplus · Accepted Answer

C)The premise of the Laws of demand is that buyers will purchase (demand)more of a product as its price drops and less of a product as its price increases.

What Takes Place When Buyers Purchase More of a Product