The Law of Demand, assuming other things to remain constant, establishes the relationship between:
A. income of the consumer and the quantity of goods demanded by him.
B. price of goods and the quantity demanded.
C. price of goods and the demand for its substitute.
D. quantity demanded of goods and the relative prices of its complementary goods.
Answer:B
The Law of Demand, assuming other things to remain constant, establishes the relationship between:
A. income of the consumer and the quantity of goods demanded by him. B. price of goods and the quantity demanded. C. price of goods and the demand for its substitute. D. quantity demanded of goods and the relative prices of its complementary goods.