Introduction to Macroeconomics

Question 15 of 25 • EAP-Economics and Personal Finance B

Which statement best explains the law of demand?

Answer

The quantity demanded by consumers increases as prices rise, then decreases as prices fall.

The quantity demanded by consumers decreases as prices rise, then increases as prices fall.

The quantity demanded by producers increases as prices rise, then decreases as prices fall.

The quantity demanded by producers decreases as prices rise, then increases as prices fall.

Unit Test

Unit Test

Unit Test