For most products, a(n) ____ relationship exists between the price of a particular product and the quantity demanded.
A) inelastic
B) inverse
C) positive
D) unknown
E) elastic

Question

Quizplus · Accepted Answer

Inverse relationship exists between the price of a particular product and the quantity demanded which means that as the price of the product increases, the quantity demanded decreases and vice versa. This is generally true for most products except for luxury goods and necessities.

For Most Products, A(n) ____ Relationship Exists Between the Price