Because price and quantity demanded are inversely related,
A) the demand curve is usually upward-sloping
B) buyers purchase more of the good as the price rises
C) the supply curve must be rising
D) price and quantity supplied must be positively related
E) the demand curve is usually downward-sloping

Question

Quizplus · Accepted Answer

According to the law of demand, there is an inverse relationship between the price of a good or service and the quantity demanded. As the price of a good increases, buyers are generally willing to purchase less of it. This relationship is reflected in a downward-sloping demand curve. Therefore, the best choice is E: the demand curve is usually downward-sloping.

Because Price and Quantity Demanded Are Inversely Related