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प्रश्न
Does a demand curve always have a negative slope? Give three reasons to justify your answer.
उत्तर
A demand curve generally has a negative slope indicating the inverse relationship between price and quantity demanded. However, the demand curve may be upward sloping under certain circumstances.
For example:
- Giffen goods have an upward sloping demand curve. They have positive relationship between price and quantity demanded.
- Similarly, a prestige good also has an upward sloping quantity demanded. Prestige goods are demanded more at higher price.
- Consumers may buy more of a commodity even at higher prices when they have fear of a shortage of that commodity in future.
संबंधित प्रश्न
The demand curve is generally ______.
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.
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.
Draw a demand curve on the basis of the following data.
| Price per unit (₹) | 2 | 3 | 4 | 5 | 6 | 7 |
| Quantity demanded (Units) | 1000 | 800 | 700 | 600 | 500 | 200 |
With the help of a diagram, show how a market demand curve can be obtained from individual demand curves.
Briefly explain any three determinants for the negative slope of the demand curve.
