True or False & Why? “Every time price goes up, demand goes up and every time price falls, demand falls too, and so on ad infinitum.”

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10-09-2021
Business

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True or False & Why? “Every time price goes up, demand goes up and every time price falls, demand falls too, and so on ad infinitum.”

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micha123el micha123el · Answer 1 · 2021-09-10T03:18:45+02:00

Answer: ▶False◀

Explanation:▶ realistically when prices fall, demand goes up. This is because everyone would buy something that cost less, than something that is expensive. Now when prices go up, demand usually goes down. This is because the consumer wouldn't want to buy something from ( ex:) retailer 1, who's products are too expensive. Than retailer 2, who's prices are very reasonable. People wouldn't want to demand something that has a price going up and up.

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