Why does the demand line slope downwards?
It slopes downwards because a lower price means more buyers will be willing and able to purchase the good (as it becomes more affordable to more people), so the quantity demanded increases. This is an inverse relationship - lower prices means higher demand so the line slopes downwards.
MA
Related Economics A Level answers
All answers ▸What is the perfect technique for reaching the top marks in the longer essay questions?
What is a public good?
State and explain two ways in which domestic fuel consumption gives rise to negative externalities.
In a perfectly competitive labour market, explain how equilibrium wages are determined by the forces of supply and demand.