By drawing a demand curve with price on the vertical axis and quantity on the horizontal axis,economists assume that the most important determinant of the demand for a good is
A)consumer income.
B)consumer tastes and preferences.
C)the price of the good.
D)the quality of the good.

Question

Quizplus · Accepted Answer

The demand curve primarily shows the relationship between the price of a good and the quantity demanded, assuming all other factors remain constant. This implies that price is considered the most important determinant of demand in this context.

By Drawing a Demand Curve with Price on the Vertical