Answered

If the demand for a good increases without its supply increasing, what change will occur?


deflation of the currency




inflation of the currency




increased price of the good




increased inherent value of the good

Verified Answer :

Increased price of the good

taskmasters

increased price of the good

If the demand for a good
increases without its supply increasing, what change will occur is the
increasing price of the good. When demand and supply does not possess a
positive correlation it will affect a certain good. For example, an oil
shortage or crisis occurs around the world. Most probably, the result of this
outcome is that the gasoline stations will increase the price rate of the oil
because of the scarcity.  





Related Questions