In the context of fundamental principles of a free market system, which of the following statements is true of a demand curve?
A) It shows the relationship between price and quantity from a producer standpoint.
B) For most goods and services, it curves upward as it moves to the right.
C) It shows the relationship between price and quantity from a customer standpoint.
D) For most goods and services, it forms a sinusoidal curve.

Question

Quizplus · Accepted Answer

A demand curve represents the relationship between the price of a good or service and the quantity demanded by consumers, reflecting the customer standpoint.

In the Context of Fundamental Principles of a Free Market