Which of the following demonstrates the law of demand?     a. When car production technology improved, car producers increased their supply of cars   b. When ketchup prices rose, buyers decreased their quantity demanded of ketchup   c. When consumers expected sweater prices to rise in the near future, they decreased their current demand of sweaters   d. When the price of leather belts rose, sellers increase their quantity supplied of leather belts

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
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Which of the following demonstrates the law of demand?

 

  a.

When car production technology improved, car producers increased their supply of cars

  b.

When ketchup prices rose, buyers decreased their quantity demanded of ketchup

  c.

When consumers expected sweater prices to rise in the near future, they decreased their current demand of sweaters

  d.

When the price of leather belts rose, sellers increase their quantity supplied of leather belts

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