Points on the demand and supply curve are indicative of

A. the law of demand or the law of supply.

B. change in the price of the good only.

C. change in consumer income

D. Both A and B

The correct option is A. the law of demand or the law of supply.

Explanation: The point on the demand and supply curve exists because of the law of demand and supply. Law of demand states that there is an indirect relationship between price and quantity demanded of goods so points on the demand curve will indicate this relationship by depicting a downward sloping curve. On the other hand, the law of supply states that there is a direct relationship between quantity supplied and price of goods and all points on supply curve will indicate this relationship by depicting an upward sloping curve.