Q. 4

What is a demand

Answer :

Demand curve is one graphical representation of the occurring relationship between a service’s or good’s price as well as the amount demanded for a certain time period. Because the law of demand followed by this curve asserts that price as well as quantity demanded of a service or good are inversely linked, its shape is mostly represented like downward-sloping. This indicates that as price of some commodity reduces, its quantity demanded enhances.

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What is meant by Economics - Board Papers