Question

The Law of Demand implies that ______________________.

When the price of a good decreases, the demand curve shifts to the right. The demand curve is negatively sloped. When the price of a good decreases, the demand curve shifts to the left. The demand curve is positively sloped.

Answer 1

If we talk in simple terms then according to law of demand in ceteris paribus or if other things held constant then price and quantity demanded are inversely related

It means if price increases then quantity demanded will decrease and vice versa

So here the slope of demand curve is negative

The demand curve is also called inversely sloped or negative slope because of the inverse relationship between price and quantity demanded

If there is a shift of demand curve either to right or left then there are more than the price factors involved like

Income level of consumers

Presence of substitutes in the market

Taste and preferences etc

So the correct answer here is option B