Question : How does the demand curve look?
Option 1: Slopes upward from left to right
Option 2: Slopes downward from left to right
Option 3: Slopes downward from right to left
Option 4: None
Answer (1)
9th Jan, 2024
Correct Answer: Slopes downward from left to right
Solution : Because price and quantity demanded are inversely related (i.e., the lower the price of a product, the higher the demand), the demand curve is defined as sloping downward from left to right.
Hence , the correct option is 2.
Comments (0)
Related Questions
Trending Articles/News
