The _____ says that sales volume,or quantity,typically increases when prices are reduced,and vice versa.
A) elasticity model
B) sales-price curve
C) law of inverse demand
D) converse sales law
E) sales demand equation

Question

The _____ says that sales volume,or quantity,typically increases when prices are reduced,and vice versa.
A) elasticity model 
B) sales-price curve 
C) law of inverse demand 
D) converse sales law 
E) sales demand equation

Quizplus · Accepted Answer

The Law of Inverse Demand states that as the price of a good or service increases, the quantity demanded decreases and vice versa. This is the basis of the relationship between price and sales volume, as described in the question. Choices A, B, D, and E are not commonly used terms to describe this relationship.

The _____ Says That Sales Volume,or Quantity,typically Increases When Prices