Question

In a market economy low prices indicate ______________.
A.an abundant supply of a product
B.a high demand of a product
C.a low supply of a product
D.scarcity of a product

Answer 1

In economics, market price is the economic price for which a good or service is offered in the marketplace. So if it's a low price, it's probably due to an abundant supply

Answer 2

The more scarce it is, the higher the price goes

Answer 3

So Its A?

Answer 4

Yeah that's what I'm thinking

Answer 5

Thank You!