What do supply and demand curves have in common?
A) They both usually slope upward.
B) They both show a relationship between quantity and price.
C) They both usually slope downward.
D) They can both shift in response to changes in income or wealth.
E) Neither of them is influenced by the size of the population.

Question

Quizplus · Accepted Answer

Both supply and demand curves show how changes in quantity are related to changes in price. As the price of a good increases, the quantity supplied typically increases while the quantity demanded decreases, and vice versa.

What Do Supply and Demand Curves Have in Common