Higher prices for a good or service provide incentives for buyers to purchase less of that good or service, and for producers to make or sell more of it. Lower prices for a good or service provide incentives for buyers to purchase more of that good or service, and for producers to make or sell less of it.
Standard detail
1.
Benchmark
Depth 1Parent ID: C4CA9FB6B1184C3EB53911F11A69AE30Standard set: Grades K, 1, 2, 3, 4
Original statement
Quick facts
- Statement code
- 1.
- List ID
- 1.
- Standard ID
- B8D2C5FE804449AABD337FE2BCD7CD95
- ASN identifier
- S2604738
- Subject
- Economics
- Grades
- 01, 02, 03, 04, K
- Ancestor IDs
- C4CA9FB6B1184C3EB53911F11A69AE30
- Source document
- Voluntary National Content Standards in Economics (2010)
- License
- CC BY 3.0 US