Saarland Abitur Economics Practice Questions - Saarland Abitur Economics (VWL) Exam

What is the 'Gesetz der Nachfrage' (law of demand), a foundational principle of market mechanisms?

As the price of a good rises, the quantity demanded typically falls, all else being equal As the price of a good rises, the quantity demanded always rises proportionally Price and quantity demanded have no relationship whatsoever The law of demand applies only to luxury goods, never to necessities

Correct Answer:

As the price of a good rises, the quantity demanded typically falls, all else being equal

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