The relationship between price of a commodity and the demand for it - (1) is a positive relationship (2) is an inverse relationship (3) They are independent of each other (4) They do not have any relationship
(2) is an inverse relationship Explanation: According to the Law of demand, consumers buy more of a good when its price is lower and less when its price is higher. It states that the quantity demanded and the prices of a commodity are inversely related, other things remaining constant.