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Homework answers / question archive / The law of demand states that a

The law of demand states that a

Economics

The law of demand states that

a. with an increase in the price, the quantity demanded increases.

b. with an increase in the price, the quantity demanded decreases.

c. with an increase in price, demand falls.

d. with an increase in price, demand rises.

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The correct option is b. with an increase in the price, the quantity demanded decreases.

In the concept of demand, the quantity demanded and price always has an inverse relationship since it influences the behavior of consumers with regards to spending disposable income for goods and/or services.

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