State with reason whether you 'agree' or 'disagree' with the following statement.
Demand curve slopes downward from left to right.
I do agree with the given statement.
This is because of the following reasons.
Demand curve is the graphical representation of a given demand schedule. It shows variations in the quantity demanded in response to change in price.
2. Price Relationship
There exist an inverse relationship between the quantity demanded and the price of a given commodity.
3. Slope of the curve
The demand curve slopes downwards from the left to right. It has negative slope.
4. Behaviour Relationship
The demand curve indicates buyers’ behaviour in response to change in price.
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- Demand Curve and Its Slope