Respuesta :
Answer: The relationship between price and quantity demanded is a fundamental concept in economics and is described by the law of demand. The law of demand states that, all else being equal, as the price of a good or service increases, the quantity demanded for that good or service decreases, and vice versa.
Explanation: In other words:
When the price of a good or service goes up, the quantity demanded tends to decrease.
When the price of a good or service goes down, the quantity demanded tends to increase.
This relationship is typically represented graphically by a downward-sloping demand curve, where the vertical axis represents price and the horizontal axis represents quantity demanded. As price decreases, quantity demanded increases along the curve, and as price increases, quantity demanded decreases along the curve.
Therefore, the statement that accurately describes the relationship between price and quantity demanded is:
"As the price of a good or service increases, the quantity demanded for that good or service decreases, and vice versa."
