The tendency for consumers to purchase more of a good or service as its price falls is called
A)the law of supply.
B)the law of increasing cost.
C)the Low-Hanging Fruit principle.
D)the law of demand.

Question

Quizplus · Accepted Answer

The tendency for consumers to purchase more of a good or service as its price falls is called the law of demand. This is a basic principle in economics, where consumers are more likely to demand more of a product if the price is low, and less likely to demand it if the price is high.

The Tendency for Consumers to Purchase More of a Good