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

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Social Studies

18 May, 18:40

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

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Triston Davidson · Answer 1

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.

Alden Chambers · Answer 2

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.