What does the term "demand relationship" mean? How does price affect demand? (Site 1)

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asked Mar 23, 2021 59.1k views

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Eric Van Der Vlist · Answer 1 · 2021-03-27T16:21:13+0000

Answer:

Price and demand have an inverse relationship. The law of demand states when the price of a good goes up, the demand of that good will go down, and vice versa if the good's price goes down.

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What does the term "demand relationship" mean? How does price affect demand? (Site 1)

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