If a website facilitates the sale of goods by individuals and businesses over the internet, but requires actual photos of every item for sale to be posted instead of a manufacturer's stock picture of the product, demand and supply of products in good condition will shift due to the improved information. If the quantity demanded shifts by more than supply, quantity will likely ___________ and price will likely ___________.

Question

Quizplus · Accepted Answer

With improved information, buyers are more confident in the quality of the products, increasing demand. If demand increases more than supply, both the quantity sold and the price will likely increase.

If a Website Facilitates the Sale of Goods by Individuals