In theory, ____________ of a product in a free-market economy will drive up the price, reduce demand, and reduce consumption.

Question

Quizplus · Accepted Answer

Reducing the supply of a product in a free-market economy typically leads to an increase in price, as the available quantity becomes scarcer relative to demand. This price increase can then reduce demand and consumption, as the product becomes more expensive for consumers.

In Theory, ____________ of a Product in a Free-Market Economy