Question

The vertical axis of a demand curve shows
A) the price of a product.
B) the supply of a product.
C) the interest in a product.
D) the production cost of a product.

Answer 1

The answer is option C. The interest in a product.

Answer 2

Answer:

The vertical axis of a demand curve shows c)  the interest in a product.

Explanation:

• With quantity on the horizontal axis and price per gallon on the vertical axis, a demand curve plots the connection between price and amount required.
• For each commodity, demand curves will seem somewhat differently. They might look to be comparatively flat or steep, straight or curved, etc.
• Demand curves are quite similar in that they consistently slope downward from left to right. The law of demand is therefore represented by demand curves, which states that as the price rises, the quantity requested drops, and as the price falls, the quantity wanted rises.

The link between a range of prices and the quantities desired at various prices, as depicted by a demand curve or a demand schedule, is what economists mean when they talk about demand.

SPJ2