Question

3. The relation that the law of demand defines is.
a) Income and price of a commodity
b) Price and quantity of a commodity
c) Income and quantity demanded
d) Quantity demanded and quantity supplied​

Answer 1

Answer:

a part I think ......................

Answer 2

The relationship that the law of demand defines is the price and the quantity of a commodity.

• The law of demand states that if a price of a commodity goes up then the price of the quantity demanded of that commodity will go down.
• It shows an inverse relationship between the price and quantity demanded of a product.
• An example of the law of demand is when the prices of Classmate notebooks go up the demand for the same will go down by a certain per cent.

The correct answer is(b) the Price and Quantity of a commodity.