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22 June, 18:20

According to the law of demand, there is an inverse relationship between price and quantity demanded. That is, the demand curve for goods and services slopes downward. Why?

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  1. 22 June, 18:26
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    This is because as the price for an item goes up, fewer and fewer people will want to pay for it. Price is on the Y axis and Demand is on the X axis so as you move from left to right, the quantity demanded keeps falling and falling.
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