The law of demand explains why people:
A) Crave certain goods.
B) Are willing to buy more of a good as price falls.
C) Are willing to pay more as marginal utility diminishes.
D) Are able to buy more of a good as supply increases.

Question

Quizplus · Accepted Answer

The law of demand states that as the price of a good decreases, the quantity demanded of that good will increase. Therefore, people are willing to buy more of a good as price falls.

The Law of Demand Explains Why People