Which of the following is the relation that the law of demand defines?

مندرجہ ذیل میں سے کون سا تعلق ہے جس کی مانگ کا قانون بیان کرتا ہے؟

Price and quantity of a commodity

Income and quantity demanded

Income and price of a commodity

None of these

The law of demand states that as the price of a commodity rises, the quantity demanded usually falls, and vice versa.

It defines an inverse relationship between price and quantity demanded.