The ratio between the demand and the supply of a commodity goes up when the supply diminishes or the price is increased.
why demand curve slopes downward from left to the right
given that the demand curve is for a normal good then this is the case as prices increase people will be willing to consume less of the good. If the good is a giffen good then this will not be the case an in fact the demand curve may either remain straight or will curve upwards as prices increase.
Demand curve is slope downward because of inverse relationship between price and quantity.
A demand curve can have an upwards slope. It solely depends on if the demand for an item is high or low.
slopes downward
why demand curve slopes downward from left to the right
given that the demand curve is for a normal good then this is the case as prices increase people will be willing to consume less of the good. If the good is a giffen good then this will not be the case an in fact the demand curve may either remain straight or will curve upwards as prices increase.
Demand curve is slope downward because of inverse relationship between price and quantity.
A demand curve can have an upwards slope. It solely depends on if the demand for an item is high or low.
slopes downward
The Engel curve shows how household expenditure on goods changes with rising income. Giffen goods are inferior goods. As household income rises, instead of consuming more of the Giffen goods, expenditure is switched to better quality goods. Consequently, the demand for a Giffen good falls as income rises and this results in a downward sloping curve. Incidentally, a curve that slopes "negatively downward" is actually a curve that slopes positively upwards!
A demand curve slopes downward left to right because the relationship between price and demand is negative - as price drops demand rises. The opposite is true for a supply curve where as price rises supply rises - the relationship is positive so the supply curve slopes upward from left to right. Nova net answer- because demand decreases as price increases
A demand curve slopes downward left to right because the relationship between price and demand is negative - as price drops demand rises. The opposite is true for a supply curve where as price rises supply rises - the relationship is positive so the supply curve slopes upward from left to right. Nova net answer- because demand decreases as price increases
A demand curve slopes downward left to right because the relationship between price and demand is negative - as price drops demand rises. The opposite is true for a supply curve where as price rises supply rises - the relationship is positive so the supply curve slopes upward from left to right. Nova net answer- because demand decreases as price increases
a demand curve is a single curve which slopes downwards from left to the right indicating an inverse relationship between price and quantity demanded. a demand schedule is a table which gives the quantity demanded at each range of prices.
The slope of the supply curve typically slopes upwards, indicating that as the price of a good increases, producers are willing to supply more of it. In contrast, the market demand curve slopes downwards, reflecting that as prices decrease, consumers are willing to purchase more of the good. This fundamental difference in slope arises from the opposing behaviors of suppliers and consumers in response to price changes. Consequently, the interaction of these two curves determines the market equilibrium price and quantity.
because demand decreases as price increases :)