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21 August, 09:20

These would change what part of the market? A) Supply B) Demand C) Law of Supply D) Law of Demand

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  1. 21 August, 11:22
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    The correct answer is "B".

    Demand is the actual need for a certain product or service in an economic system. When demand rises, prices rise due to the "scarcity" of the product, in other words, there is only a limited supply of it. The price of the demanded product will rise until the available amount of it (the supply) matches the existent demand.
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