ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -** The demand schedule shows that as price rises, quantity demanded decreases, and vice versa. These points are then graphed, and the line connecting them is the demand curve. The downward slope of the demand curve again illustrates the law of demand-the inverse relationship between prices and quantity demanded.

Detailed explanation-2: -A demand curve is downward sloping showing that there is an inverse relationship between the price of a good and the quantity demanded.

Detailed explanation-3: -A demand curve shows the relationship between price and quantity demanded on a graph with quantity on the vertical axis and price on the horizontal axis.

Detailed explanation-4: -Key Takeaways. The law of supply and demand is a keystone of modern economics. According to this theory, the price of a good is inversely related to the quantity offered. This makes sense for many goods, since the more costly it becomes, less people will be able to afford it and demand will subsequently drop.

Detailed explanation-5: -The demand schedule shows the relationship between the quantity demanded of a commodity and price of the commodity. Demand curve slope downwards as because the individual buys more of a commodity at lower price.