Question

The relationship between price & demand is _______ *

2 points

A. Inverse

B. Function

C. Direct

D. Indirect

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Answer 1

Answer:

inverse is the correct answer

Explanation:

The law of demand:

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).

Answer 2

Answer:

Economists call this inverse relationship between price and quantity demanded the law of demand. The law of demand assumes that all other variables that affect demand are held constant. An example from the market for gasoline can be shown in the form of a table or a graph.

IN SIMPLE ANSWER IS ( INVERSE )

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