ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Horizontal slope curve
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Vertical slope curve
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Upward sloping curve
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Downward sloping curve
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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: -1) The law of diminishing the marginal utility Consequently, when the quantity is more, the prices will fall and demand will increase. Hence, consumers will demand more goods when prices are less. This is why the demand curve slopes downwards.
Detailed explanation-3: -The demand curve will move downward from the left to the right, which expresses the law of demand-as the price of a given commodity increases, the quantity demanded decreases, all else being equal. Note that this formulation implies that price is the independent variable, and quantity the dependent variable.
Detailed explanation-4: -The law of demand states that when the price of a product goes up, the quantity demanded will go down – and vice versa.