Advertisements
Advertisements
Question
Law of demand states the ______ relationship between price and quantity demanded.
Options
Inverse
Positive
Proportional
None of these
MCQ
Fill in the Blanks
Solution
Law of demand states the Inverse relationship between price and quantity demanded.
Explanation:
The Law of Demand asserts that as the price of a commodity rises, so does the amount desired, and vice versa. As a result, the price and quantity have an inverse relationship.
shaalaa.com
Is there an error in this question or solution?
