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According to Adam Smith what happens when the supply of a product increases?
The price decreases.
According to Adam Smith what happens when the supply of a good decreases?
The price increases-
According to Adam Smith what will happen when the demand of a good increases?
The price decreases.
What is general law of demand?
The general law of demand is that as demand increases, so will prices. This is half of the law of supply and demand. As supply increases, prices fall. So price depends upon a balance between supply and demand. This was originally pointed out by Adam Smith, in his book "The Wealth Of Nations".
What will happen when the supply of a product increases According to Adam Smith?
the price of the product will decrease
According to Adam smith What happens when demand for a product decreases?
Supply increases.
What will happen when the demand for a product increases according to Adam Smith?
Supply increases.
According to Adam smith what happen when the demand for a product decreases?
Supply increases.
According to Adam Smith what happens when the supply of a product increases?
The price decreases.
According to Adam Smith what happens when the supply of a good decreases?
The price increases-
What happens when the supply of product decreases according to Adam smith?
The price increases
According to Adam Smith what will happen when the demand of a good increases?
The price decreases.
What is general law of demand?
The general law of demand is that as demand increases, so will prices. This is half of the law of supply and demand. As supply increases, prices fall. So price depends upon a balance between supply and demand. This was originally pointed out by Adam Smith, in his book "The Wealth Of Nations".
According to Adam smith what happened when the supply of product increases?
The price decreases.
What will happen when the supply of a product increases According to Adam Smith?
the price of the product will decrease
What are two factors that regulate a marketplace according to Adam smith?
Supply and demand are the 2 factors that regulate a marketplace.
Adam smith's law?
Adam Smith stated the law of supply and demand.
