Ask Question
Social StudiesSocial Studies
24 January, 02:39

Jack sells homemade chocolates and cookies. He expects the price of chocolates to increase around Valentine's Day, so he prepares to make more chocolates in February. Which economic concept lies behind Jack's decision to make more chocolates in February?

equilibrium

law of demand

law of supply

negative externality

positive externality

+5
Answers (2)
  1. 24 January, 05:10
    0
    Law of demand, it is law of demand because the more people that want it the stores price will go up because people want it so they will pay the price anyways
  2. 24 January, 05:45
    0
    I believe the answer is:Law of demand

    The law of demand dictate that if everything else being equal, the price of a product would increase if the demand of the product increases.

    In the example above, the price of chocolate increase because more people want to obtain the product to give to their loved ones during valentine. This provide the incentive for the sellers to obtain more profit by increasing the price of the product during valentine.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Jack sells homemade chocolates and cookies. He expects the price of chocolates to increase around Valentine's Day, so he prepares to make ...” in 📙 Social Studies if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Diana is placed into a remedial mathematics class in her school. Her new remedial math teacher communicates that he does not expect Diana to perform well in class. As a result, she does not try very hard and gets very low grades in the class.
Answers (1)
Roosevelt came from a prominent family discuss his family and backround
Answers (1)
Any ___ may suggest a bill. A. citizen B. judge C. legislator
Answers (2)
What was the effect on drinking water due to the nuclear disaster at Chernobyl
Answers (1)
Who ruler that area in 1920
Answers (1)
New Questions in Social Studies
A state statute mandates that the statute of limitations for a negligence lawsuit is two years and the plaintiff is barred from filing the suit if he or she files after that time. This statute is an example of a
Answers (1)
Akuna resisted changing her answer to a test question after reminding herself that its always best to stick with your first answer. akunas decision best illustrates the use of
Answers (1)
The Declaration of Independence reflected the idea of social contract because it
Answers (1)
Explain the impact of the westward movement in the lives of Native Americans.
Answers (1)
Consider the following FIPS description: The disruption of access to or use of information or an information system could be expected to have a limited adverse effect on organizational operations, organizational assets, or individuals.
Answers (1)
Home » Social Studies » Jack sells homemade chocolates and cookies. He expects the price of chocolates to increase around Valentine's Day, so he prepares to make more chocolates in February.
Sign Up Forgot Password?