What is the basic relationship between producers and consumers? when price is up, supply is down when price is up, demand is down when price is down, demand is up when price is down, supply is up

The asnwer is: When price is up, demand is down

According to the Law of Demand, there is an inversely proportional relation between price and demand. The Law of Demand states that when the prices are up, the demand goes down, on the opposite side, is the prices goes is drown, the demand goes up until there is not enough supply to offer, so, the prices will rise again.

There is a condition called "equilibrium point" where the prices are determined by the demand, meaning that the consumers are willing to acquire all the supply that the producers are offering.

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