The law of demand states that quantity demanded increases in a given time period if:
A) The price of the good falls.
B) Incomes increase.
C) Preferences change.
D) Expectations improve.

Question

Quizplus · Accepted Answer

The law of demand states that quantity demanded increases as price falls, and vice versa. Therefore, as the price of a good decreases, consumers will demand more of it. The other options (B, C, D) do not necessarily have a direct impact on the law of demand.

The Law of Demand States That Quantity Demanded Increases in a Given