The law of demand is illustrated by a demand curve that is:
A) horizontal.
B) downward-sloping.
C) vertical.
D) upward-sloping.

Question

Quizplus · Accepted Answer

The law of demand states that as the price of a good or service increases, the quantity demanded decreases, and as the price decreases, the quantity demanded increases. This relationship is shown graphically by a downward-sloping demand curve. Therefore, the best choice is B.

The Law of Demand Is Illustrated by a Demand Curve