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Demand and Supply
Quick questions on Demand and the law of demand explained: O-Level Economics
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What is the demand curve?Show answer
If we plot price on the vertical axis and quantity demanded on the horizontal axis, the law of demand gives a curve that slopes downward from left to right. At a high price, quantity demanded is low; at a low price, quantity demanded is high. Each point on the curve answers the question, how much would buyers purchase at this price?
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