what do you understand by demand curve
Answers
Answer:
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.
Answer:
demand curve is graphic representation of the law of demand.
1. individual demand curve- its the curve that shows different quantities of the good which a consumer is willing to buy at different prices during a specified period.
2. market demand curve- its a curve that represents different quantities of goods which all consumers in the market are willing to buy at different prices during a specified period.
the demand curve is always downward sloping.
but there are some exceptions to the law of demand.
the la of demand states that other things remaining equal, the quantity demanded of a commodity increases hen its price falls and decreases when its price rises.
