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When quantities are plentiful the price lowers; when quantities are scarce the price rises. Also called supply and demand. Whether or not it right or wrong, it's just the way it is and we have to accept it or do without that particular commodity.
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Is their inverse relationship between quantity and price?
Yes.
The relationship between quantity demanded and price is direct or inverse?
direct
What is the difference between a demand schedule and a demand curve?
a demand schedule is a table showing the relationship between the price of a good and the quantity demanded , but a demand curve is a graph showing the relationship between the price of a good and the quantity demanded.
What is a negative relationship between the quantity demanded and price called?
Propensity to consume
The relationship between quantity supplied and price is direct or inverse?
As quantity supplied goes up, price goes down. This is because the supply function is downward sloping. Thus, the relationship is inverse.
Is their inverse relationship between quantity and price?
Yes.
The relationship between quantity demanded and price is direct or inverse?
direct
Term for relationship between price and quantity supplied?
Demand Curve
What is the difference between a demand schedule and a demand curve?
a demand schedule is a table showing the relationship between the price of a good and the quantity demanded , but a demand curve is a graph showing the relationship between the price of a good and the quantity demanded.
What is a negative relationship between the quantity demanded and price called?
Propensity to consume
The relationship between quantity supplied and price is direct or inverse?
As quantity supplied goes up, price goes down. This is because the supply function is downward sloping. Thus, the relationship is inverse.
The supply curve shows the relationship between?
Supply curve shows relationship between price of the particular commodity and the quantity supplied of that commodity at different price level.
What is a table that shows the relationship between the price of a good and the quantity supplied?
Supply schedule
The negative relationship between the quantity demanded of a commodity and its price can be explained by the principle of?
true
What is the relationship between the price of an item and the quantity demanded?
It is a direct relationship. As demand for an item rises, all else equal, price for an item will rise.
Does a supply curve show a direct or inverse relationship between price and quantity supplied?
Yes, it does.
What curve shows the relationship between the sales price and quantity is called the demand curve?
supply
