Question

The demand for cosmetics suddenly increases in a certain region without any growth in supply. Economists predict that the increased demand
will have three effects. Arrange those three effects in the order in which they will occur.
More producers will enter the market.
The prices of cosmetics will decrease.
The prices of cosmetics will increase

Answer 1

The correct order of listing the events which would occur when the demand for cosmetics suddenly increases in a certain region without any growth in supply is:

1. The prices of cosmetics will increase
2. More producers will enter the market.
3. The prices of cosmetics will decrease.

According to the given question, we are asked to state the correct order of listing the events which would occur when the demand for cosmetics suddenly increases in a certain region without any growth in supply.

As a result of this, we can see that because there is an increase in demand of cosmetics without an increase in supply, then three things are likely to happen, according to economics.

These are:

• The prices of cosmetics will increase
• More producers will enter the market.
• The prices of cosmetics will decrease.

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