Law of Demand Quiz
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Law of Demand Quiz

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Questions and Answers

Which of the following statements about the law of demand is true?

  • As the price of a good increases, the quantity demanded decreases. (correct)
  • The law of demand states that supply increases as demand increases.
  • The law of demand does not apply to essential goods.
  • The law of demand suggests that price and quantity demanded are directly related.
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