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Which best explains how the law of demand affects consumers? |
an increase in price due to an increase in demand |
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Consumer demand is defined as |
how much of something people want |
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The law of demand applies most directly to which group |
buyers |
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A factor that most influences changes in consumer demand is |
price. |
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The area in which the law of demand best applies is |
microeconomics |
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Consumers create demand for |
goods and services |
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Which best summarizes how consumer demand changes |
Consumer demand changes over time based on many factors |
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Which does the law of demand do? Check all that apply |
-allows producers to respond to consumers -allows consumers to influence prices |
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Products whose demand levels are connected to other products are called |
Complementary goods |
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Which best explains how the law of demand affects consumers |
It helps consumers tell producers when prices are too high |
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