Which statement correctly completes the definition of a demand curve? A demand curve is a function that shows the relationship between:
A) price and the quantity sold.
B) price and the quantity supplied.
C) price and the quantity demanded.
D) quantity demanded and quantity supplied.

Question

Quizplus · Accepted Answer

A demand curve shows the relationship between the price of a good or service and the quantity that consumers are willing and able to buy at that price, holding all other factors constant. Therefore, the correct choice is C, "price and the quantity demanded". Choice A is incorrect because it implies that all goods will be sold at the given price, which is not accurate. Choice B is incorrect because it shows the relationship between price and the quantity that suppliers are willing and able to offer, not the quantity demanded by consumers. Choice D is incorrect because it describes the market equilibrium, where the quantity demanded equals the quantity supplied, rather than the demand curve itself.

Which Statement Correctly Completes the Definition of a Demand Curve