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What is the relationship between the price of an item and the quantity demanded?
Wiki User
∙ 8y ago
It is a direct relationship. As demand for an item rises, all else equal, price for an item will rise.
Wiki User
∙ 8y ago
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The relationship between quantity demanded and price is direct or inverse?
direct
What is the difference between a demand schedule and a demand curve?
a demand schedule is a table showing the relationship between the price of a good and the quantity demanded , but a demand curve is a graph showing the relationship between the price of a good and the quantity demanded.
What is a negative relationship between the quantity demanded and price called?
Propensity to consume
What are the different types of demand in economics?
what is demand curve is a graphic representation of the relationship between product price and the quantity of the product demanded. It is drawn with price on the vertical axis of the graph and quantity demanded on the horizontal axis
What kind of relationship does the demand curve have in relation to supply?
Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. Supply represents how much the market can offer.
The relationship between quantity demanded and price is direct or inverse?
direct
What is the difference between a demand schedule and a demand curve?
a demand schedule is a table showing the relationship between the price of a good and the quantity demanded , but a demand curve is a graph showing the relationship between the price of a good and the quantity demanded.
What is a negative relationship between the quantity demanded and price called?
Propensity to consume
The negative relationship between the quantity demanded of a commodity and its price can be explained by the principle of?
true
Why do people buy more of something at lower prices and less at higher prices?
the law of demand. an inverse relationship between the quantity demanded and the price of the product (the lower the price the higher the quantity demanded).
What are the different types of demand in economics?
what is demand curve is a graphic representation of the relationship between product price and the quantity of the product demanded. It is drawn with price on the vertical axis of the graph and quantity demanded on the horizontal axis
What kind of relationship does the demand curve have in relation to supply?
Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. Supply represents how much the market can offer.
What is a demand equation?
The demand equation refers to the mathematical expression of the relationship between the quantity demanded and price. The quantity that is demanded is usually denoted by letter Q while the function of the price is usually denoted by letter P.
What is demand equation?
The demand equation refers to the mathematical expression of the relationship between the quantity demanded and price. The quantity that is demanded is usually denoted by letter Q while the function of the price is usually denoted by letter P.
What are the reasons for negative relationship between price and quantity demanded?
Price and demand have an inverse relationship. Therefore, if the price goes up, the demand goes down; the price goes down, the demand goes up.
What is abnormal demand?
Abnormal demand curve is a curve which slopes downwards from left to right indicating that price and quantity demanded has an inverse relationship and as price falls quantity demanded increase and as price increases quantity demanded decrease, this brings about a shift along the same demand curve
What is abnormal demand curve?
Abnormal demand curve is a curve which slopes downwards from left to right indicating that price and quantity demanded has an inverse relationship and as price falls quantity demanded increase and as price increases quantity demanded decrease, this brings about a shift along the same demand curve
