an increase in the demand for a product will cause the

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15-10-2021
Business

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an increase in the demand for a product will cause the

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jayilych4real jayilych4real · Answer 1 · 2021-10-18T11:46:37+02:00

An increase in the demand for a product will cause the Increase in price because there is a supply that has to be met.

According to the laws of demand and supply, when there is a demand for a particular product, then the price will increase and when there is a decrease in the demand of a product, then the price will reduce.

With this law in mind, we can see that if there is an increase in the price of a particular product, then there will an increase in the price of the product too. This simply obeys the economic law.

Therefore, the correct answer is Increase in price