18. The law of the demand states that there is a _______________ between the price and the quantity of the demand

Question

BlackTom AI · Accepted Answer

Consider the question: 'The law of the demand states that there is a _______________ between the price and the quantity of the demand'.
Option 1: 'positive' — This would imply that as price rises, quantity demanded also rises, which contradicts the law of demand. Hence this is incorrect.
Option 2: 'negative' — The law of demand asserts an inverse relationship: higher price leads to lower quantity demanded, and lower price leads to higher quantity demanded. This option accurately reflects that negative relationship, so it is correct.
Option 3: 'zero' — A zero (no) relationship would mean price changes do not affect quantity demanded at all, which contradicts the fundamental principle of the law of demand. Therefore this is incorrect.
Option 4: 'no' — This is not a valid description of the relationship in economic terms; it neither specifies a direction nor a meaningful connection between price and quantity demanded, so it is incorrect.
In summary, the only option that properly describes the established inverse linkage between price and quantity demanded is 'negative'.

25FAL-ECO-8-48630 Midterm Exam [ Thu, 10/16 by 11:59pm] MODULES[1 TO 5]

18. The law of the demand states that there is a _______________ between the price and the quantity of the demand

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Similar Questions

Assuming all other factors remain the same, in a demand curve for most items, raising the price of a purchase typically results in _______.

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25FAL-ECO-8-48630 Midterm Exam [ Thu, 10/16 by 11:59pm] MODULES[1 TO 5]

18. The law of the demand states that there is a _______________ between the price and the quantity of the demand

View Explanation

Log in for full answers

Similar Questions

Assuming all other factors remain the same, in a demand curve for most items, raising the price of a purchase typically results in _______.

Which is of the following statements is correct?

When quantity demanded decreases in response to a change in price:

经济学家将价格升高导致需求量降低的关系称为 _____________。

需求的性质表明，随着商品价格的上涨：

需求曲线向下倾斜再次说明了随着 _____________ 上升，_________________ 下降的模式。

Economists refer to the relationship that a higher price leads to a lower quantity demanded as the _____________.

The nature of demand indicates that as the price of a good increases:

More Practical Tools for Students Powered by AI Study Helper

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需求曲线向下倾斜再次说明了随着 _ 上升，_____ 下降的模式。