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Give Reason Or Explain the Following Statement. Demand Curve Slopes Downward from Left to Right. - Economics

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Question

Give reason or explain the following statement.

Demand curve slopes downward from left to right.

Solution

Demand curve is the graphical representation of the relationship between the demand for a good and its price, for a given income, price of related goods, tastes and preferences. This curve slopes downwards from left to right because of the negative relationship between price of the commodity and its demand.

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APPEARS IN

 Micheal Vaz Solution for Micheal Vaz Class 12 Economics (2019 to Current)
Chapter 3: Demand Analysis
Exercise | Q: 2.3 | Page no. 24

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Solution Give Reason Or Explain the Following Statement. Demand Curve Slopes Downward from Left to Right. Concept: Demand.
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