jaylarichardson100
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Which of the following most accurately describes the relationship between supply, demand, and price of goods? A. As supply decreases, demand increases, and price decreases B. As supply increases, demand decreases, and price decreases C. As supply increases, demand increases, and price increases D. As supply decreases, demand decreases, and price increases

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bbrianneknow

Answer:

I think the answer is either A or D.

It's an essential economic principle that after supply exceeds demand for a terrific service, price fall. When demand exceeds supply, prices have a tendency to rise. Hence, Option B is the correct statement.

What is the primary law of demand?

Demand is derived from the law of diminishing marginal utility, the reality that customers use monetary items to fulfill their maximum pressing wishes first.

There is an inverse relationship between the supply and prices of products and offerings whilst demand is unchanged.

Thus, as the supply exceeds demand for a terrific service and prices fall. Option B is the correct statement.

Learn more about law of demand here:

https://brainly.com/question/24500422

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