The demand curve of a commodity slopes downward because of:
a. the insatiable nature of human wants.
b. the presence of double coincidence of wants.
c. the law of demand.
d. the scarcity of goods and services in an economy.
e. the law of diminishing marginal utility.
c
Economics
You might also like to view...
What will be the principal and most immediate effect on the supply or demand for raw cotton grown in the United States if cotton-growing states experience rapid industrialization?
A) Decrease in demand B) Decrease in supply C) Increase in demand D) Increase in supply
Economics
Excess demand occurs:
A. when price is above the equilibrium price. B. whenever the market is in equilibrium. C. when price is below the equilibrium price. D. whenever the market is not in equilibrium.
Economics