ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Nearly all demand curves share the fundamental similarity that they slope down from left to right, embodying the law of demand: As the price increases, the quantity demanded decreases, and, conversely, as the price decreases, the quantity demanded increases.

Detailed explanation-2: -A change in any one of the underlying factors that determine what quantity people are willing to buy at a given price will cause a shift in demand. Graphically, the new demand curve lies either to the right (an increase) or to the left (a decrease) of the original demand curve.

Detailed explanation-3: -The demand curve is based on the demand schedule. The demand schedule shows exactly how many units of a good or service will be purchased at various price points. It is important to note that as the price decreases, the quantity demanded increases.

Detailed explanation-4: -Consequently, a positive change in demand amid constant supply shifts the demand curve to the right, the result being an increase in price and quantity. Alternatively, a negative change in demand shifts the curve left, leading price and quantity to both fall.