The relationship between the price of a good and the quantity of a good consumed is:

Name: The relationship between the price of a good and the quantity of a good consumed is:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The relationship between price and quantity consumed is generally inverse. As the price of a good increases, consumers demand less of it, and as the price of a good decreases, consumers demand more of it. This is known as the law of demand. However, in some situations, the relationship may be direct or unknown.

The Relationship Between the Price of a Good and the Quantity