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प्रश्न
What does the demand curve given below show?
उत्तर
The demand curve in the image illustrates the relationship between income (on the Y-axis) and demand (on the X-axis). The curve is upward-sloping, which indicates that as income increases, the demand for the good also increases. This is typical behaviour for normal goods.
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Normal Goods: For normal goods, when consumers' income increases, they tend to buy more of these goods, leading to an increase in demand. The curve shows a positive relationship between income and demand, indicating that the good in question is likely normal.
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Upward Sloping Curve: The upward sloping curve (D) represents how demand rises as income rises, reflecting the nature of normal goods where higher income leads to higher consumption.
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संबंधित प्रश्न
The market demand curve is a ______ summation of all Individual demand curves:
What does the graph below indicate?
Assertion (A): If the income of a consumer increases, other things constant, the demand curve for a normal goods shifts to the right.
Reason (R): As income increases, the demand curve for an inferior good shifts to the left.
Assertion (A): Demand curve is downward sloping.
Reason (R): Demand curve slopes downwards from left to the right because price and quantity demanded are inversely related.
Draw a neat labelled diagram of a demand curve.
Explain the following diagram:
Give two reasons for the shift of the demand curve towards the left.
Give two reasons for the shift of the demand curve towards the right.
In 2002, the prices of gold nearly tripled. yet, as the price of gold rose its sales too increased. Does this mean that the demand curve for gold is upward sloping? Justify your answer.
Does a demand curve always have a negative slope? Give three reasons to justify your answer.
