Jack sells homemade chocolates and cookies. He expects the price of chocolates to increase around Valentine's Day, so he prepares to make more chocolates in February. Which economic concept lies behind Jack's decision to make more chocolates in February?

equilibrium

law of demand

law of supply

negative externality

positive externality

I believe the answer is:Law of demand

The law of demand dictate that if everything else being equal, the price of a product would increase if the demand of the product increases.

In the example above, the price of chocolate increase because more people want to obtain the product to give to their loved ones during valentine. This provide the incentive for the sellers to obtain more profit by increasing the price of the product during valentine.

Law of demand, it is law of demand because the more people that want it the stores price will go up because people want it so they will pay the price anyways