If prices go up, demand goes up.

Question 19 options:

True

False

False

Explanation:

The price of a product and the demand have an inverse relationship which means that if the price decreases, the quantity demanded will increase. So, according to this, when the price of a product go up, people are less willing to buy it which results in a decrease in the demand. Because of this, the statement that says if prices go up, demand goes up is false.