If price is on the vertical axis and quantity demanded is on the horizontal axis,why is a demand curve downward sloping (left to right)?
A) Because a demand curve is the graphical representation of the law of demand,which specifies an inverse relationship between price and supply,ceteris paribus.
B) Because a demand curve is the graphical representation of the law of demand,which specifies a direct relationship between price and quantity supplied,ceteris paribus.
C) Because a demand curve is the graphical representation of the law of demand,which specifies an inverse relationship between price and demand,ceteris paribus.
D) Because a demand curve is the graphical representation of the law of demand,which specifies a direct relationship between price and demand,ceteris paribus.
E) Because a demand curve is the graphical representation of the law of demand,which specifies an inverse relationship between price and quantity demanded,ceteris paribus.

Question

Quizplus · Accepted Answer

A demand curve represents the relationship between price and quantity demanded, holding all other factors constant. The law of demand states that, ceteris paribus, as the price of a good or service goes up, the quantity demanded of that good or service decreases. As a result, the demand curve slopes downward from left to right.

If Price Is on the Vertical Axis and Quantity Demanded