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Choose the correct terms to complete the sentence.

As the price of beef increases, consumption, which means that for the demand of beef, there is a (n) relationship between price and consumption.

Question

Business

Cosmo

9 June, 07:22

Select the correct answer from each drop-down menu.

Choose the correct terms to complete the sentence.

As the price of beef increases, consumption, which means that for the demand of beef, there is a (n) relationship between price and consumption.

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Answers (1)

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Rogelio Bowen · Answer 1

As the price of beef increases, consumption, which means that for the demand of beef, there is an inverse relationship between price and consumption.

Explanation:

We know that there is an inverse relationship between price and demand. If the price increases the demand for that commodity falls. On the other hand if the price decreases the demand for that commodity increases.

If the price of beef increases that leads to less demand for the consumption of beef on the other hand if the price of beef decreases which will lead to increase in the demand for the consumption of beef.

Select the correct answer from each drop-down menu.Choose the correct terms to complete the sentence.As the price of beef increases, consumption, which means that for the demand of beef, there is a (n) relationship between price and consumption.

Select the correct answer from each drop-down menu.

Choose the correct terms to complete the sentence.

As the price of beef increases, consumption, which means that for the demand of beef, there is a (n) relationship between price and consumption.