What is the basic relationship between producers and consumers? When price is up, supply is down When price is up, demand is down When price is down, demand is up When price is down, supply is up

Answer;

When price is up, demand is down

Explanation; As the price of a good goes up, consumers demand less of it and more supply enters the market. If the price is too high, the supply will be greater than demand, and producers will be stuck with the excess. Conversely, as the price of a good goes down, consumers demand more of it and less supply enters the market.