1 View

Question : Which of the following statements is correct regarding the demand curve?
I. It is a graphical representation of the demand function.
II. It gives the quantity demanded by the consumer at each price.

Option 1: Both I and II

Option 2: Only II

Option 3: Neither I nor II

Option 4: Only I


Team Careers360 1st Jan, 2024
Answer (1)
Team Careers360 12th Jan, 2024

Correct Answer: Both I and II


Solution : The correct option is Both I and II .

The demand curve is a graphical representation of the demand function, which shows the relationship between the price of a good or service, and the quantity demanded. It slopes downward because of the law of demand, which states that all other things being equal, the quantity demanded of a good or service decreases as the price increases. The demand curve gives the quantity demanded by the consumer at each price.

How to crack SSC CHSL

Candidates can download this e-book to give a boost to thier preparation.

Download Now

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books