asked 149k views
2 votes
Write the relation between product and demand curve.

1 Answer

3 votes

Answer:

The Law of Demand

Because buyers have finite resources, their spending on a given product or commodity is limited as well, so higher prices reduce the quantity demanded. Conversely, demand rises as the product becomes more affordable. As a result, demand curves slope downward from left to right, as in the chart below.

answered
User Yeroon
by
8.3k points

No related questions found

Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.