ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -If the price goes up, the quantity demanded goes down (but demand itself stays the same). If the price decreases, quantity demanded increases. This is the Law of Demand. On a graph, an inverse relationship is represented by a downward sloping line from left to right.

Detailed explanation-2: -A demand curve represents the relationship between the price of a good or service and the quantity demanded for a given period of time. Typically, as the price rises, the demand falls; as a result, the curve slopes down from left to right.

Detailed explanation-3: -What Is a Decrease in Quantity Demanded? A decrease in quantity demanded represents movement along the demand curve with changes in price. Take the example of the demand for avocados. When the price is high, at $2, consumers are less likely to buy, and the demand is low.

Detailed explanation-4: -A change in quantity demanded is represented as a movement along a demand curve. The proportion that quantity demanded changes relative to a change in price is known as the elasticity of demand and is related to the slope of the demand curve.