how is the of supply different from the law of demand

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28-02-2022
Social Studies

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how is the of supply different from the law of demand

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Adamburns36idn Adamburns36idn · Answer 1 · 2022-02-28T22:13:16-05:00

Adamburns36idn Adamburns36idn

28-02-2022

Answer:

The law of demand says that at higher prices, buyers will demand less of an economic good. The law of supply says that at higher prices, sellers will supply more of an economic good. These two laws interact to determine the actual market prices and volume of goods that are traded on a market.

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