DEMAND CURVE



Demand curve:

 A demand curve is a graphical presentation of the demand schedule. It is obtained by plotting a demand schedule. We can now plot the data from Table 1 on a graph with price on the vertical axis and quantity on the horizontal axis. In Fig. 1, we have shown such a graph and plotted the five points corresponding to each price-quantity combination shown in Table 1. Point A shows the same information as the first row of Table 1, that at ` 5 per unit, only 10 units of X will be demanded. Point E shows the same information as does the last row of the table, when the price is Re 1, the quantity demanded will be 60 units.

Fig. 1 : Demand Curve for Commodity X



We now draw a smooth curve through these points. The curve is called the demand curve for commodity‘X’. It has a negative slope. The curve shows the quantity of ‘X’ that a consumer would like to buy at each price; its downward slope indicates that the quantity of ‘X’ demanded increases as its price falls. Briefly put, more of a good will be purchased at lower prices. Thus the downward sloping demand curve is in accordance with the law of demand which, as stated above, describes an inverse price-demand relationship.

Goods and Service Tax Book (Updated upto 20th January 2018)

GST Student friendly Book most relevant/Useful for CA Intermediate/IPCC, CS executive , CWA Intermediate and CA final. 
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GST (Goods and Services Tax) Book -A student friendly Book. - Bharat Gurukul
GST Student friendly Book most relevant/Useful for CA Intermediate/IPCC, CS executive , CWA Intermediate 

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