149k views
2 votes
Write the relation between product and demand curve.

1 Answer

3 votes

Answer:

The Law of Demand

Because buyers have finite resources, their spending on a given product or commodity is limited as well, so higher prices reduce the quantity demanded. Conversely, demand rises as the product becomes more affordable. As a result, demand curves slope downward from left to right, as in the chart below.

User Yeroon
by
7.4k points