As the price level increases, the amount of goods and services that consumers, businesses, and governments desire to purchase will change. How will this be illustrated?

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asked Oct 12, 2018 155k views

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Suryansh Singh · Answer 1 · 2018-10-18T15:44:06+0000

An example could also be in the car manufacturing sector, that as the pricprode of gas increases, then a response to this is to produce cars that have better gas mileage or electric cars.

As the price level increases, the amount of goods and services that consumers, businesses, and governments desire to purchase will change. How will this be illustrated?

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