Question

Ajlnverse
5 According to Law of Demand the slope of Demand Curve is​

Answer 1

Answer:

Downward

Explanation:

Because there is a inverse relationship between Demand and price of goods that's why slope of Demand curve is downward

Answer 2

Basic economic principle that states that the higher the price of a good or service, the less people will want to buy of it.

Explanation:

• Similarly, the lower the price, the more people will want to buy of it. The exact relationship between price and quantity demanded is the demand curve.
• The demand curve is simply a graph showing the relationship between price and quantity demanded.
• The Law of Demand states that the quantity demanded of a good or service is determined by the price of that good or service.
• The Law of Demand is best represented by a Demand Curve, which shows the quantity of a good or service that is demanded at each possible price.
• The slope of the Demand Curve shows the direction of the relationship between the price of a good or service and the quantity demanded of that good or service.
• For example, if the price of oranges increases, the quantity of oranges demanded will decrease.