The law of demand states that:

Question

Quizplus · Accepted Answer

The law of demand states that as the price of a good or service increases, the quantity demanded for that good or service will decrease, and vice versa. This means that price and quantity demanded are inversely related, making option A the correct choice. Option C is the opposite of the law of demand and is incorrect. Option B and E are about the relationship between price and the number of buyers in the market, which is not directly related to the law of demand. Option D is incorrect because it suggests that consumers buy more at higher prices, which contradicts the law of demand.

The Law of Demand States That