As the prices of homes rose across the United States in 2021, the number of homes offered for sale started to increase Does this fact illustrate the law of demand or the law of supply? OA As the demand for homes increases, the demand curve for homes shifts rightward and the quantity of homes supplied increases. This fact illustrates the law of demand B. As the demand for homes increases, the demand curve for homes shifts rightward and the quantity of homes supplied increases. This fact illustrates the law of supply OC. As the supply of homes increases, the supply curve of homes shifts rightward and the quantity of homes demanded increases. This fact ilustrates the law of demand OD. As the demand for homes increases, the demand curve for homes shifts rightward and the quantity of homes demanded increases. This fact illustrates the law of demand
As the prices of homes rose across the United States in 2021, the number of homes offered for sale started to increase Does this fact illustrate the law of demand or the law of supply? OA As the demand for homes increases, the demand curve for homes shifts rightward and the quantity of homes supplied increases. This fact illustrates the law of demand B. As the demand for homes increases, the demand curve for homes shifts rightward and the quantity of homes supplied increases. This fact illustrates the law of supply OC. As the supply of homes increases, the supply curve of homes shifts rightward and the quantity of homes demanded increases. This fact ilustrates the law of demand OD. As the demand for homes increases, the demand curve for homes shifts rightward and the quantity of homes demanded increases. This fact illustrates the law of demand
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:As the prices of homes rose across the United States in 2021, the number of homes offered for sale started to increase
Does this fact illustrate the law of demand or the law of supply?
OA As the demand for homes increases, the demand curve for homes shifts rightward and the quantity of homes supplied increases. This fact illustrates the law of demand
B. As the demand for homes increases, the demand curve for homes shifts rightward and the quantity of homes supplied increases. This fact illustrates the law of supply
OC. As the supply of homes increases, the supply curve of homes shifts rightward and the quantity of homes demanded increases. This fact ilustrates the law of demand
OD. As the demand for homes increases, the demand curve for homes shifts rightward and the quantity of homes demanded increases. This fact illustrates the law of demand
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When talking about the law of demand and law of supply, it can be said that these laws explain the relationship between price and quantity, and price and quantity supplied, respectively.
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