Which of the following is true about the demand curve?
A) It is used to illustrate the effect of price on the quantity supplied.
B) It is always graphically depicted by a straight line.
C) It shows the quantity of product customers will buy in a market during a period of time even if other factors change.
D) It usually slopes upward and to the right.
E) It shows the relationship between product demand and product price.

Question

Quizplus · Accepted Answer

The demand curve shows the relationship between product demand and product price. It illustrates the quantities of a product that consumers are willing to buy at various prices, assuming other factors remain constant. The curve is typically downward sloping, indicating that as the price of a good increases, the quantity demanded will decrease.

Which of the Following Is True About the Demand Curve