Why does the demand curve slope downwards?

There is an inverse relationship between price and quantity demanded. When the price is low, high quantities are demanded and vice versa when the price is high; for all goods which are not giffen goods. However this is opposite to the supply curve, as price and quantity supplied increased proportionately. 

Answered by Nicholas C. Economics tutor

7621 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

Explain what you understand by the Lorenz Curve and Gini Coefficient.


why is the profit maximising output where marginal cost (MC)= marginal revenue (MR)?


What is the best method of structuring an Economics Essay


Using Angola as an example, evaluate the view that MNCs play a positive role in the development of LEDCs. (25 marks)


We're here to help

contact us iconContact usWhatsapp logoMessage us on Whatsapptelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo
Cookie Preferences