An increase in the price of gasoline will cause a reduction in the amount purchased is an example of:________

Question

24-08-2022
Business

contestada

An increase in the price of gasoline will cause a reduction in the amount purchased is an example of:________

Respuesta :

Otras preguntas

Suppose that the average number of airline crashes in a country is 1.9 per month.(a) What is the probability that there will be at least 2 accidents in the next

Which sentence best uses punctuation to show thoughts trailing off? O A. I watched him leave, knowing what would happen next. ) B. I watched him leave - knowing

After composing an open-ended, debatable question, the next step to developing a well-supported, logical argument is to identify the main issues regarding the t

A dozer cost $300,000 to purchase, and the machine useful life is 10 years and 10,000 operating hours. The salvage value of the equipment at the end of 10 year

Write the equation of the line fully simplified slope-intercept form.

Lindsey needs a car to get back and forth from her home in the city to her university, which are 4 miles apart. When shopping for a car, Lindsey decides to buy

The Precambrian eon is separated from the Phanerozoic eon in the fossil record because of the number of earthquakes occurring at that time. the appearance and d

Can someone help with this please

Which of the following statements is NOT true regarding ERP? A. ERP promises slow, but accurate, information. B. ERP allows companies share a common database

When you begin your cyclic planning process you should always complete 4 steps. (Please select these 4 steps.) Please fill out this question. a) Plan b) Imp

Asmasaadatkhan Asmasaadatkhan · Answer 1 · 2022-08-31T21:18:25+02:00

An increase in the price of gasoline will cause a reduction in the amount purchased is an example of demand.

Demand is an economic concept that describes a consumer's readiness to pay a specific price for products and services as well as their desire to purchase them. Demand for an item or service declines as the price increases. In a similar vein, increasing the price of an item or service increases demand.

Five main elements primarily determine demand:

Service price
The purchaser's income
Prices for substitute commodities
Customer preferences
Consumers' expectations regarding price changes.

The rule of demand states that when prices increase, demand decreases. Demand will rise as prices decrease.

Learn more about Demand

https://brainly.com/question/13394470

#SPJ4