demand curve
graph depicting the demand for a product as a function of its price | ||||
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Demand curves definition was found in categories: Social Science(1)
| A Glossary of Political Economy Terms |
Demand curve
A graphical representation of a demand schedule . Conventionally, the demand curve is usually drawn between axes with price plotted along the vertical axis and number of units of the good or service demanded plotted along the horizontal axis. Where the law of demand applies to the particular market under consideration, the demand curve will slope (either gently or steeply) downwards from left to right.
[See also: demand , law of demand , demand schedule , supply ]
A graphical representation of a demand schedule . Conventionally, the demand curve is usually drawn between axes with price plotted along the vertical axis and number of units of the good or service demanded plotted along the horizontal axis. Where the law of demand applies to the particular market under consideration, the demand curve will slope (either gently or steeply) downwards from left to right.
[See also: demand , law of demand , demand schedule , supply ]