Demand slopes down because:
A) supply slopes up, and supply and demand must intersect.
B) consumers focus too much on the price of goods when they choose the quantity to demand.
C) goods usually only have a single use.
D) consumers will choose to use goods only in their most valuable uses when prices are high.

Question

Quizplus · Accepted Answer

According to the law of demand, consumers will choose to use goods only in their most valuable uses when prices are high. This means that as the price of a good increases, consumers will demand less of it. Therefore, demand slopes down. The other options do not accurately explain why demand slopes down.

Demand Slopes Down Because