According to the law of demand, what role do low prices serve for buyers? (1 point) Responses:

1. supply
2. reward
3. substitute
4. penalty

2. reward

According to the law of demand, low prices serve as a reward for buyers.

According to the law of demand, the role that low prices serve for buyers is a reward. When prices are low, it incentivizes buyers to purchase more of a particular good or service. This is because lower prices typically mean that buyers can obtain more value for their money, which acts as a reward for them. Higher prices, on the other hand, act as a penalty as they discourage buyers from making a purchase. So, in this case, the correct answer is option 2: reward.