Question

Which statement is true about the law of demand?

O
The law of demand is equal to the law of supply.
The law of demand does not correlate price and demand.
There is a direct relationship between price and supply.
O
There is an inverse relationship between price and demand.

Answer 1

The law of demand is equal to the law of supply

Step-by-step explanation:

The law of demand states that other factors being constant (cetris peribus), price and quantity demand of any good and service are inversely related to each other.

Answer 2

The law of demand is equal to the law of supply