The law of demand is based on the observation that A) people ...

[nmorano1]

The law of demand is based on the observation that
 
  A) people buy less of a product when the product becomes less fashionable.
  B) people buy more of a product when the price falls.
  C) people are indifferent to price changes.
  D) stores go out of business if they lower prices.

Question 2

Microeconomics is defined as that part of economic analysis that
 
  A) studies the behavior of the economy as a whole.
  B) includes the problems of inflation and unemployment.
  C) studies individual decision making by households and firms.
  D) concerns aggregate production and consumption.

[durant1234]

Answer to Question 1

B

Answer to Question 2

C

[nmorano1]

Thanks for the timely response, appreciate it

[jamesnevil303]

Gracias!