Question

The law of demand relates primarily to which of the following?
A
the actions of producers in response to changes in prices
B
the actions of producers in response to changes in production costs
C
the actions of consumers in response to changes in prices
D
the actions of consumers in response to changes in production costs

Answer 1

Answer:

C. The actions of consumers in response to change in price.

Explanation:

Law of demand states that people will demand lower quantity of a good at a higher price. This law is one the fundamental principles of Economics.