According to the law of demand, an increase in the price of baseball trading cards causes:
A. people to buy fewer trading cards.
B. people to buy more trading cards.
C. the scarcity of baseball trading cards to increase.
D. baseball trading cards to grow in abundance.
Answer:A
According to the law of demand, an increase in the price of baseball trading cards causes:
A. people to buy fewer trading cards. B. people to buy more trading cards. C. the scarcity of baseball trading cards to increase. D. baseball trading cards to grow in abundance.
Explanation: The law of demand is the inverse relationship between price and quantity demanded, as illustrated by the correct response.