0
The demand curve means a graphcurve that normally slopes downward towards the right of thechart(except for aGiffen good, where it slopes toward the left), showingquantityof aproduct(good orservice) demanded at differentpricelevels. Customarily, the price is plotted on vertical ('Y') axis and quantity on the horizontal ('X') axis, and it is assumed that (in theshort run)incomelevels, price ofsubstitutes, andcustomerpreferences, remain unchanged. Demand curves of theindividualproductsare aggregated to give amarket demand curveand, when drawn together with thesupply curves, show theequilibrium priceat the intersection of the two curves. See link below.
What else can I help you with?
In economics what is the meaning of the term 'demand curve'?
Graphical representation of law of demand that is change in quantity demanded due to change in price keeping other factors constant is demand curve. It is downward sloping as there is inverse relation between price and quantity demanded.
Term for relationship between price and quantity supplied?
Demand Curve
Is the monopolist's demand curve elastic or inelastic?
The monopolist's demand curve is typically inelastic, meaning that changes in price do not have a significant impact on the quantity demanded by consumers.
True or False the steeper the demand curve the less elastic the demand curve?
It is false that the steeper the demand curve the less elastic the demand curve. The steeper line is used in economics to indicate the inelastic demand curve.
Is a demand curve created from a demand schedule?
The data on a demand schedule can be plotted on a demand curve. Often, a demand schedule will be created before the creation of a demand curve, so as to allow for greater accuracy when plotting the demand curve.
Is an increase in demand represented by a movement up the demand curve?
An increase in demand is represented by a shift of the demand curve to the right; not a movement along the demand curve. An increase in the quantity demanded would be a movement down the demand curve.
What the primary difference between aggregate demand curve and individual demand curve?
aggregate demand curve is the total sum of all the individual demand curves while individual demand curve is the demand made by the single individual.
What is a demand curve and how it is different from demand function?
The demand curve demonstrates what happens when a product is demanded by customers. A demand function refers to an event that can affect the demand curve.
Intuitive derivation of individual demand curve using marginal utility?
how is a demand curve derived from individual demand curve ?
Market demand curve?
the market demand curve is the curve related to the demand of the commodity demanded by the group of people to the at different price.
What are the examples for exceptional demand curve?
Example of a Linear Demand Curve
How would the demand curve of cigarettes?
Demand curve will be perfect inelastic
