If Price Is on the Vertical Axis and Quantity Demanded

question 148

Multiple Choice

If price is on the vertical axis and quantity demanded is on the horizontal axis,why is a demand curve downward sloping (left to right) ?

• A) Because a demand curve is the graphical representation of the law of demand,which specifies an inverse relationship between price and supply,ceteris paribus.
• B) Because a demand curve is the graphical representation of the law of demand,which specifies a direct relationship between price and quantity supplied,ceteris paribus.
• C) Because a demand curve is the graphical representation of the law of demand,which specifies an inverse relationship between price and demand,ceteris paribus.
• D) Because a demand curve is the graphical representation of the law of demand,which specifies a direct relationship between price and demand,ceteris paribus.
• E) Because a demand curve is the graphical representation of the law of demand,which specifies an inverse relationship between price and quantity demanded,ceteris paribus.

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Definitions:

Limiting Factors

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