WindelCaceus123
09.07.2019 •
History
When the price of a car model tino planned to buy rose he bought a different brand instead. which economic principle does this demonstrate
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Ответ:
The substitution effect
Explanation:
Based on the definition of the demand law, that states that when the price goes high, the demand for the product in the market reduces, the substitution effect applies in this case.
Consumers always prefer products worth of their price. So if a particular product shifts in price, consumers are likely to find a substitute of the similar product. Income also had an effect. When the product increases its price, the quantity that consumers purchase decreases and the consumption of expensive product reduces.
Ответ:
according to James 'prayers said in company if others were "more but the numbers of times were not given" times more effective than what is said in private