Jack sells homemade chocolates and cookies. he expects the price of chocolates to increase around valentine’s day, so he prepares to make more chocolates in february. which economic concept lies behind jack’s decision to make more chocolates in february?

equilibrium
law of demand
law of supply
negative externality
positive externality

I believe the answer is:Law of demand

The law of demand dictate that if everything else being equal, the price of a product would increase if the demand of the product increases.

In the example above, the price of chocolate increase because more people want to obtain the product to give to their loved ones during valentine. This provide the incentive for the sellers to obtain more profit by increasing the price of the product during valentine.

earlier philosophers whose work influenced the enlightenment included bacon, descartes, locke, and spinoza. the major figures of the enlightenment included beccaria, diderot, hume, kant, montesquieu, rousseau, adam smith, and voltaire. it spread the ideas of the enlightenment across europe and beyond.

1. artillery

2. jose san martin

3.their economies remained dependent on outside powers.

4. drafted new economies

5. democracies have replaced dictatorships