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The demand curve for a good is ____________________________.

a) a line that relates price and quantity demanded
b) a line that relates income and quantity demanded
c) a line that relates quantity demanded and quantity supplied
d) a line that relates price and income

User V P
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1 Answer

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Answer: Option (a) is correct.

Step-by-step explanation:

The demand curve for a particular good represents the relationship between the price of a good and quantity demanded for a good. The demand curve of a good is normally downward sloping. Law of demand states that there is an inverse relationship between the price of a good and quantity demanded for a good. This means that an increase in the price of a good will lead to reduce the quantity demanded for that good and a decrease in the price of a good will lead to increase the quantity demanded for that good.

User Hans Kilian
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