In a demand curve, the relationship between price and quantity is?
ECONOMICS
JAMB 2001
In a demand curve, the relationship between price and quantity is?
- A. indeterminate
- B. direct
- C. nil
- D. inverse
Correct Answer: D. inverse
Explanation
A demand curve shows the relationship between quantity demanded and price. The price of a good is inversely related to the quantity demanded in the sense that, the higher the price, the lower the demand, and the lower the price, the higher the demand.
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