Final answer:
The correct statement about the typical slopes of supply and demand curves is that supply curves are usually upward sloping and demand curves are downward sloping.
Step-by-step explanation:
Typically, supply curves are upward sloping and demand curves are downward sloping. This refers to a fundamental concept in economics that depicts the relationship between the price of a good or service and the quantity supplied or demanded. Demand curves slope down from left to right because as the price increases, the quantity demanded decreases, and as the price decreases, the quantity demanded increases.
This relationship highlights the law of demand. On the other hand, supply curves tend to slope upwards because as the price increases, the quantity supplied tends to increase, and as the price decreases, the quantity supplied tends to decrease, aligning with the law of supply.