ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A demand curve is graph that shows the relationship between the price of a good or service and the quantity demanded within a specified time frame. Demand curves can be used to understand the price-quantity relationship for consumers in a particular market-corn or soybeans, for example.

Detailed explanation-2: -Demand schedule and demand curve A demand schedule is a table that shows the quantity demanded at each price. A demand curve is a graph that shows the quantity demanded at each price. Sometimes the demand curve is also called a demand schedule because it is a graphical representation of the demand scheduls.

Detailed explanation-3: -Quantity demanded is the amount of a good that buyers are willing and able to purchase at a particular price. Many things determine demand, but only price can determine the quantity demanded of a specific good.

Detailed explanation-4: -Market Demand Curve Remember that an individual demand curve is a graph showing the quantity of demand for a certain individual at each price that might be used in the market at a given time.

Detailed explanation-5: -A demand curve shows the relationship between quantity demanded and price in a given market on a graph. The law of demand states that a higher price typically leads to a lower quantity demanded.