Question

what is the regulating force of the market? competition scarcity self - interest specialization 02 multiple choice 0 / 1 apple just announced that the price of iphones will decrease by 30% over the next year. how would that affect demand for iphones? the demand curve would shift to the left. the demand curve would shift to the right. there would be movement down to the right along the demand curve. there would be movement up and to the left on the demand curve.

Explanation:

1. Scarcity is a fundamental economic concept that influences market - prices and quantities. It drives competition and decision - making among buyers and sellers, thus regulating the market.
2. When the price of iPhones is expected to decrease in the future, consumers may delay their current purchases. However, in the context of the law of demand, a lower price in the future is likely to attract more consumers overall, shifting the demand curve to the right as more people are willing and able to buy at various price levels.

Answer:

1. A. Competition
2. B. The demand curve would shift to the right.