if the supply of goods does not increase but the demand increases, what do you think will happen? why?
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if the supply of goods does not increase but the demand increases, what do you think will happen? why?
if the supply of goods does not increase but the demand increases, what do you think will happen? why?
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Answer:
There is an inverse relationship between the supply and prices of goods and services when demand is unchanged. If there is an increase in supply for goods and services while demand remains the same, prices tend to fall to a lower equilibrium price and a higher equilibrium quantity of goods and services.
Explanation:
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Answer:
There is an inverse relationship between the supply and prices of goods and services when demand is unchanged. If there is an increase in supply for goods and services while demand remains the same, prices tend to fall to a lower equilibrium price and a higher equilibrium quantity of goods and services.
Why?:
If the demand increases, and the supply remains the same, there will be a shortage, and the price will increase. If the demand decreases, and the supply remains the same, there will be a surplus, and the price will go down