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Question
There is a ______ relationship between demand and price.
Options
Direct
inverse
positive
substitute
MCQ
Fill in the Blanks
Solution
There is a inverse relationship between demand and price.
Explanation:
The price of a commodity and the quantity required have an inverse connection; as the price of a good rises, the quantity demanded by consumers falls, and vice versa. The law of demand refers to this relationship.
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Concept for Law of demand and supply
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