Question : In general, the demand curve slopes:
Option 1: Parallel to Y-axis
Option 2: Upward from left to right
Option 3: Parallel to X-axis
Option 4: Downward from left to right
Answer (1)
24th Jan, 2024
Correct Answer: Downward from left to right
Solution :
Since price and quantity demand have an inverse relationship, the demand curve often slopes downward. According to the demand curve, when prices increase, demand decreases, and when prices decrease, demand increases.
Hence option d is the correct answer.
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