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What would prices do if a product was abundant?
a. drop
b. rise
c. stay the same
d. give a better value
Answer
Prices would drop due to the flooding of the market on the one product.
The economy revolves around the concept of Supply and Demand.
When supply is low, and demand is high, prices will be driven up.
and Visa Versa
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Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017
This 22 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 123 views.