Asked by
Gurdit Singh
on Dec 11, 2024Verified
A decrease in the price of leather used to make shoes would cause the
A) demand for shoes to decrease.
B) demand for shoes to increase.
C) supply of shoes to decrease.
D) supply of shoes to increase.
Leather
A durable and flexible material created by tanning animal rawhide and skins.
Supply
The total amount of a product or service that is available for purchase at any given time.
Demand
The amount of a product or service buyers are prepared and capable of buying at a specific price.
- Fathom the causes that precipitate alterations in supply and demand.
Verified Answer
SL
Learning Objectives
- Fathom the causes that precipitate alterations in supply and demand.