Advertisements
Advertisements
Question
The demand curve which indicates the inverse relationship between price and demand ______.
Options
Slopes upward
Slopes downward
Remains horizontal
Remains vertical
Solution
The demand curve which indicates the inverse relationship between price and demand slopes downward.
Explanation:
If there is an inverse connection between the variables of demand and price, the demand curve will consistently show a downward slope.
RELATED QUESTIONS
Why is supply directly proportional to price?
What is inflation impact on debtors?
Explain the following:
Walking inflation
Distinguish between creeping inflation and running inflation.
Give two assumptions of the law of supply.
Give two differences between recurring deposits and fixed deposits.
Printers and ink cartridge are an example of ______ demand.
Supply always refers to a specific desired quantity which a seller is willing to ______
If tea and coffee are substitutes, then bread and butter are examples of ______.
In economics demand and price have ______ relationship.
