What is demand curve full explanation
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Posted by Sandeep Sharma 7 years, 7 months ago
- 2 answers
Pawan Kaur 7 years, 7 months ago
Definition: The demand curve is a downward sloping economic graph that shows the relationship between quantity of product demanded by a market and the price the market is willing to pay. Quantity Demanded is always graphed horizontally on the x-axis while Price is graphed vertically on the y-axis.
What Does Demand Curve Mean?
The curve demonstrates the Law of Demand, which states that as prices for a product increase, the quantity demanded by consumers decreases. In other words, as the product becomes more expensive, less consumers will want or be able to purchase it. The opposite is true for decreasing prices.
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Tushar Darlami 7 years, 6 months ago
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