Question

The statement "the quantity demanded of a product varies inversely with its price" is a definition of

A)
laissez-faire.
B)
the law of demand.
C)
the invisible hand.
D)
the law of competition

Answer 1

B.) The law of demand

Hope this helps :)

Answer 2

The quantity demanded of a product varies inversely with its price is a definition of the law of demand. In other words if the product increases the demand decreases or if the price of product decreases the demand on the product increases.