Which of the following statements best describes the law of supply? a. as prices fall, supply will rise; as prices rise, supply will fall. b. as demand rises, so will supply, and as demand falls, so will supply. c. as prices rise, so will supply; as prices fall, so will supply. d. as demand rises, supply will fall, and as demand falls, supply will rise.

Question

Social Studies

Karla Ford

1 August, 12:37

Which of the following statements best describes the law of supply? a. as prices fall, supply will rise; as prices rise, supply will fall. b. as demand rises, so will supply, and as demand falls, so will supply. c. as prices rise, so will supply; as prices fall, so will supply. d. as demand rises, supply will fall, and as demand falls, supply will rise.

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Elisa Duncan · Answer 1

a, it's just like the cost of gas.

. when there's a inflation with the cost of gas people need to ride bikes to work. when there's a inflation with money the prices well also rise.