Ask Question
20 August, 20:00

When the demand for a product is greater than the supply, prices and profits:

+5
Answers (1)
  1. 20 August, 22:06
    0
    They will increase

    Explanation:

    When the demand is high, and supply is high the prices will decrease. When supply is low, and demand is high the prices will increase. This is because if you have low supply on something, and a lot of people want your product, but you do not have enough for everyone, you will increase your price to make a greater profit. This way you can buy more supply, which will meet your demand.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “When the demand for a product is greater than the supply, prices and profits: ...” in 📘 History if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers