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State Whether the Following Statement is True and False Demand Curve Slopes Upward from Left to Right. - Economics

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Question

State whether the following statement is TRUE and FALSE

Demand curve slopes upward from left to right.

Solution

FALSE

The 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 the price of the commodity and its demand. In the diagram below, DD is the demand curve.

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APPEARS IN

 Micheal Vaz Solution for Micheal Vaz Class 12 Economics (2019 to Current)
Chapter 3: Demand Analysis
Exercise | Q: 3.1 | Page no. 24

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Solution State Whether the Following Statement is True and False Demand Curve Slopes Upward from Left to Right. Concept: Demand.
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