What is the law of demand? a tendency for consumers to buy more of a good when its price decreases and less when its price increases the desire to own something and the ability to pay for it a table that lists the quantity of a good all consumers in a market will buy at each different price a table that lists the quantity of a good a person will buy at each different price

The correct answer is a) A tendency for consumers to buy more of a good when its price decreases and less when its price increases

Explanation:

A classical definition of the law of demand in microeconomics states that the the demand for a good rises when it's price is lowered, while the demand for a product decreases if the price increases - assuming all other factors are constant.

While pretty simple at it's core, the theory sets the basis for how a simple economic system works.

For corporations, the basic theory dictates how to price a product, how to increase sales and ensure better profits.

For government, it can show how the economic might stagnant if there is too much inflation.

on this day in 1833, president andrew jackson announces that the government will no longer use the second bank of the united states, the country's national bank. a national bank had first been created by george washington and alexander hamilton in 1791 to serve as a central repository for federal fund

this is true car insurance is optionall