Asked by
Azareel Luna Vargas
on Nov 05, 2024
Verified
A decrease in demand for a product will cause the price of the product to fall and supply of the product to decrease.
Decrease in Demand
A condition where consumers show less interest in purchasing a product, leading to a leftward shift in the demand curve.
- Understand the fundamental principle of market equilibrium and the effects of shifts in supply and demand on the equilibrium price and quantity.
- Investigate the impact that market and governmental interventions have on maintaining market stability.
Verified Answer
ES
Learning Objectives
- Understand the fundamental principle of market equilibrium and the effects of shifts in supply and demand on the equilibrium price and quantity.
- Investigate the impact that market and governmental interventions have on maintaining market stability.