If price rises, what happens to the quantity demanded for a product?

A) It increases.
B) It decreases.
C) It does not change.
D) Uncertain--economic theory has no answer to this question.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level within a specified time period.

Economic Theory

A set of principles and models that explains how economies operate and how economic agents interact.