Business Studies, asked by susanmaseola, 4 hours ago

Briefly explain the laws of supply and demand with reference to what demand and supply curves look like

Answers

Answered by priyanshisingh152006
1

Answer:

The chart below shows that the curve is a downward slope. Like the law of demand, the law of supply demonstrates the quantities that will be sold at a certain price. But unlike the law of demand, the supply relationship shows an upward slope. This means that the higher the price, the higher the quantity supplied.

Answered by Anonymous
3

Answer:

The chart below shows that the curve is a downward slope. Like the law of demand, the law of supply demonstrates the quantities that will be sold at a certain price. But unlike the law of demand, the supply relationship shows an upward slope. This means that the higher the price, the higher the quantity supplied.

Explanation:

A demand curve shows the relationship between quantity demanded and price in a given market on a graph. ... A supply curve shows the relationship between quantity supplied and price on a graph. The law of supply says that a higher price typically leads to a higher quantity supplied.

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