Question

Which of the following defines the law of demand?

 

a) the lower the price of a commodity, the lower the quantity demanded of that commodity

b) as the price of a commodity increase, the quantity demanded of the commodity also increases

c)  the lower the price of a commodity, the greater the quantity demanded of that commodity

d) the lower the price of a commodity, the greater the quantity supplied of that commodity

e) the quantity demanded of a particular good decreases with an increase in the price of a substitute good