Q4 of 15 Page 2

What is a demand curve? What is the shape of a demand curve?

Demand curve is one graphical representation of the occurring relationship between a service’s or good’s price as well as the amount demanded for a certain time period. Because the law of demand followed by this curve asserts that price as well as quantity demanded of a service or good are inversely linked, its shape is mostly represented like downward-sloping. This indicates that as price of some commodity reduces, its quantity demanded enhances.


More from this chapter

All 15 →