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What is the relationship between price and demand?

A. They move in parallel directions.
B. They move in a downward direction.
C. They move in opposite directions.
D. They move in an upward direction.

Sagot :

GinnyAnsweridn

Final answer:

The Law of Demand states that price and quantity demanded are inversely related, resulting in a downward sloping demand curve.


Explanation:

The relationship between price and demand in economics is represented by the Law of Demand, which states that price and quantity demanded are inversely related.

For normal goods, an increase in price will result in a decrease in quantity demanded, leading to a

downward sloping demand curve

. This negative relationship between price and quantity demanded reflects consumer preferences, diminishing marginal utility, and different valuations consumers place on products.


Learn more about Price-Demand Relationship here:

https://brainly.com/question/44028635


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