Answer to Question #208125 in Economics for Beauty Magadlela

Question

Which one of the statement below represents the law of demand ?

A .When the price of a good decreases , buyers purchase more of the good .

B. When the buyers demand for a good increase, the price of the good increases

C.When income levels increase , buyers purchase more of most good

D. When buyers taste for a good increase , they purchase more of the good

Answer 1

B. When the buyers demand for a good increase, the price of the good increases