demand curves
Price-quantity graphed lines
A demand curve is a graph showing how the quantity of a good that buyers want changes as price changes.
Typically it slopes downward—as price rises, demand falls.
Economists use demand curves to analyze markets, predict consumer behavior, and understand how price changes affect purchasing: The demand curve for luxury goods tends to be more elastic than for necessities.
- priceMonetary value assigned
- downward slopeGround that descends
- consumersThose who buy goods
- marketVenue for trade
- market forcesSupply-demand price drivers
quantities · producers · preferences · elasticity · economics · supply · relationships · x-axis · scarcity · consumer behavior · subsidy programs · price sensitivity · market trends · price fluctuations · price controls · linear equations · competitive markets · microeconomics