ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Because the graphs for demand and supply curves both have price on the vertical axis and quantity on the horizontal axis, the demand curve and supply curve for a particular good or service can appear on the same graph.

Detailed explanation-2: -The vertical axis represents price. The supply curve is plotted as a line with an upward slope, pointing up and to the right. If the available quantity of the good increases, the supply curve shifts right. If quantity decreases, the supply curve moves left.

Detailed explanation-3: -The supply and demand graph visually illustrates the relationship between supply and demand. The x-axis represents the quantity and the y-axis represents the price. On the supply and demand curve, quantity determines how much suppliers offer and how much consumers demand.

Detailed explanation-4: -demand curve, in economics, a graphic representation of the relationship between product price and the quantity of the product demanded. It is drawn with price on the vertical axis of the graph and quantity demanded on the horizontal axis.

Detailed explanation-5: -The vertical axis shows the price and the horizontal access shows the quantity demanded. A demand curve shows an inverse relationship-the curve slopes downward from left to right. A table showing the quantity demanded of a good or service corresponding to a number of prices.