A negative relationship between quantity demanded and price is called the law of:
A)demand.
B)increasing returns.
C)market clearing.
D)supply.

Question

Quizplus · Accepted Answer

The law of demand states that there is an inverse relationship between the price of a good and the quantity demanded of that good. As the price of a good increases, consumers will demand less of it, and as the price decreases, consumers will demand more of it.

A Negative Relationship Between Quantity Demanded and Price Is Called