The law of demand states that there is a negative, or inverse, relationship between the price of a good and the quantity of that good demanded. This inverse relationship indicates that the demand curves slope downward.

The law of demand states that, other things equal, when the price of a good rises, the quantity demanded of that good falls.

The Latin term ceteris paribus describes an assumption which allows for a change in only one variable at a time. In other words, when there is a number of different factors that determine an outcome, we assume that only one can change and all the others are held constant. Thus, in this case, the price is changing while the other determinants of demand are assumed to be unchanging.

Ceteris Paribus is a Latin phrase, which means “other things being equal.” It is used in economics to state that all variables other than the one studied are assumed to be constant or fixed. As it can be understood from the information given the correct answer is “B”.