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.

---

Definitions:

Creativity

The capacity to generate unique and novel concepts, or to create something innovative or creative.

Creative Process

A series of steps or stages involved in generating innovative ideas or solutions, involving imagination, experimentation, and evaluation.

Graham Wallas

A social psychologist known for his work on the creative process, notably the four-stage model comprising preparation, incubation, illumination, and verification.

New Concept

An innovative or original idea not previously known or recognized.