economics curve | BTCC Knowledge

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What is a demand curve?

As noted above, the demand curve is a commonly used graph that represents the relationship between prices and the total quantity of goods and services demanded over a certain period of time. Prices normally appear on the y-axis while demand is depicted on the x-axis. This curve generally moves downward from the left to the right.

Why does a demand curve slope down from left to right?

The demand curve generally slopes down from left to right, due to the law of demand while the quantity demanded drops as the price rises for the majority of goods. Changes in factors besides price and quantity can shift a demand curve to the right or left.

What are demand curves & demand schedules?

Demand curves and demand schedules are tools used to summarize the relationship between quantity demanded and price. Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price.

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