The law of supply and demand relates to

a. the relative price of goods and services.

b. the rate of unemployment.

c. the income tax structure.

d. the presence of a monopoly.

A. The relative price of goods and services. The law of demand and supply explains the interaction between the supply and demand of a resource. The law of demand states that if all things are equal, the higher the price the lesser (quantity) the demand for the goods/services. While the law of supply states that if all things are equal, the higher the price, the higher the (quantity) supply of goods/services.