🎴 Flashcard Mode
Film and Economics
Card1 / 15
Mastered0
Review0
QuestionClick to flip
Which economic principle states that the value of a good or service is determined by its scarcity?
AnswerClick to flip back
A
Law of Supply
💡 Explanation:
The Law of Supply states that the quantity of a good or service supplied increases as its price increases, and vice versa.