What kind of market system does the united states have ? socialist market system communist market system representative market system free- market system what happens to the cost of a product when demand for the product is high? cost goes up cost goes down cost stays the same what happens to the cost of a product when demand for the product is low? cost goes down cost goes up cost stays the same what happens when demand for a product is high and supply is low? opportunity cost specialization scarcity trade-off what happens when you have a high supply of products but have low demand? scarcity depression surplus specialization