Question

The Law of Demand states that _______________________________.

a
When Price increases, Demand increases
b
When Price increases, Demand decreases
c
When Price increases, Quantity Demand increases
d
When Price increases, Quantity Demand decreases

Answer 1

D. When price increases, Quantity Demand decreases

The Law of Demand summarized states that the more expensive an item gets, people will buy less of that item.