Question on: JAMB Economics - 2001
In a demand curve, the relationship between price and quantity is?
A
indeterminate
B
direct
C
nil
D
inverse
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Correct Option: C
The demand curve illustrates the relationship between the price of a good or service and the quantity demanded. According to the law of demand, as the price of a good increases, the quantity demanded decreases, and vice versa. This indicates an inverse or negative relationship between price and quantity demanded.
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