Question

Briefly discuss the various situations for positive relationship between price and quantity demanded.
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Answer 1

Answer:

The relationship between demand and price: the law of demand is a general relationship between price and consumption: when the price of a good rises, the quality demanded will fall. The quality of the good demanded per period of time will fall as price rises and will rise as price falls, other things being equal.

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Answer 2

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Law of demand states: As price of a good increases, the quantity demanded of the good falls, and as the price of a good decreases, the quantity demanded of the good rises, ceteris paribus. Restated: there is an inverse relationship between price (P) and quantity demanded (Qd).

The relationship between demand and price: the law of demand is a general relationship between price and consumption: when the price of a good rises, the quality demanded will fall. The quality of the good demanded per period of time will fall as price rises and will rise as price falls, other things being equal.

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