Under the basic principle of supply,as the price goes down,manufacturers and suppliers of a product tend to supply less of the product to the market.
Level of Learning 1: Knowledge of key terms

Question

Quizplus · Accepted Answer

This statement correctly reflects the principle of supply, which states that as the price of a product decreases, suppliers tend to reduce the quantity supplied to the market.

Under the Basic Principle of Supply,as the Price Goes Down,manufacturers