ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the demand for compact disks would increase
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the quantity demanded of compact disks would decrease
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the quantity demanded of compact disks would increase
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the demand for compact disks would decrease
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the quantity demanded of compact disks would not change
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Detailed explanation-1: -If the price decreases, quantity demanded increases. This is the Law of Demand. On a graph, an inverse relationship is represented by a downward sloping line from left to right.
Detailed explanation-2: -The law of demand states that a higher price leads to a lower quantity demanded and that a lower price leads to a higher quantity demanded. Demand curves and demand schedules are tools used to summarize the relationship between quantity demanded and price.
Detailed explanation-3: -A decrease in demand shifts the demand curve leftward, and an increase in supply shifts the supply curve rightward.
Detailed explanation-4: -When quantity demanded decreases in response to a change in price: the demand curve shifts to the right.