ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Up
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Down
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No slope
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None of the above
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Detailed explanation-1: -The law of demand assumes that the other factors affecting the demand of a commodity remain the same. Thus, the demand curve is downward sloping from left to right.
Detailed explanation-2: -Does the Demand Curve Slope Downward or Upward? The demand curve generally slopes downward from left to right, illustrating that as the price of a good rises, the demand for it falls. However, there are exceptions to the rule-for Giffen goods and Veblen goods, for example.
Detailed explanation-3: -Yes, the demand curve slopes downward from left to right because of the law of demand. The law of demand states that there is an inverse proportional relationship between price and demand of a commodity.
Detailed explanation-4: -In most circumstances the demand curve has a negative slope, and therefore slopes downwards. This is due to the law of demand which conditions that there is an inverse relationship between price and the demand of a good or a service.
Detailed explanation-5: -The law of diminishing marginal utility. The income effect. The substitution effect. 13-Jan-2020