Which of the following is true about the demand curve?
A)It usually slopes upward and to the right.
B)It is used to illustrate the effect of price on the quantity supplied.
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 is always graphically depicted by a straight line.
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, indicating the quantity of a product consumers are willing to buy at different price points. It typically slopes downward and to the right, indicating that as price increases, quantity demanded decreases. The demand curve is not always a straight line and does not necessarily illustrate the effect of price on the quantity supplied. It also does not illustrate the quantity of product customers will buy in a market during a period of time if other factors change.

Which of the Following Is True About the Demand Curve