ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the price of that good and the quantity demanded for that good
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the price of that good and the quantity demanded for a substitute good
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the price of a particular good and the availability of that good
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the price of that good and the demand fir that good as wells as complimentary goods
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the price of that good and the general income level across a region
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Detailed explanation-1: -A demand curve represents the relationship between the price of a good or service and the quantity demanded for a given period of time. Typically, as the price rises, the demand falls; as a result, the curve slopes down from left to right.
Detailed explanation-2: -The law of demand is an economic principle that explains the negative correlation between the price of a good or service and its demand. If all other factors remain the same, when the price of a good or service increases, the quantity of demand decreases, and vice versa.
Detailed explanation-3: -The law of demand introduces an inverse relationship between price and demand for a good or service. It simply states that as the price of a commodity increases, demand decreases, provided other factors remain constant. Also, as the price decreases, demand increases.
Detailed explanation-4: -The price of a product and the quantity demanded for that product have an inverse relationship, as stated by the law of demand. An inverse relationship means that higher prices result in lower quantity demand and lower prices result in higher quantity demand.
Detailed explanation-5: -An increase in the price of a good will increase demand for its substitute, while a decrease in the price of a good will decrease demand for its substitute.