ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time. In a typical representation, the price will appear on the left vertical axis, the quantity demanded on the horizontal axis.

Detailed explanation-2: -The demand curve is plotted as a line with a negative slope, pointing down and to the right. If the quantity demanded increases, the downward-sloping demand curve moves right. If demand decreases, the curve moves left. The two curves intersect at the point of equilibrium.

Detailed explanation-3: -The price is plotted on the vertical (Y) axis while the quantity is plotted on the horizontal (X) axis. Demand curves are used to determine the relationship between price and quantity, and follow the law of demand, which states that the quantity demanded will decrease as the price increases.

Detailed explanation-4: -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.