A downward-sloping demand curve implies:
A)there is an inverse relationship between price and quantity demanded.
B)there is a positive relationship between price and quantity demanded.
C)there is no relationship between price and quantity demanded.
D)buyers are willing to buy less when prices are lower.

Question

Quizplus · Accepted Answer

A downward-sloping demand curve indicates that as the price of a good or service increases, the quantity demanded by consumers decreases. This is due to the inverse relationship between price and quantity demanded, as consumers are typically willing to purchase more of a good or service at a lower price and less at a higher price.

A Downward-Sloping Demand Curve Implies