Why does the demand curve slope downwards?
There is an inverse relationship between price and quantity demanded. When the price is low, high quantities are demanded and vice versa when the price is high; for all goods which are not giffen goods. However this is opposite to the supply curve, as price and quantity supplied increased proportionately.
NC
Related Economics A Level answers
All answers ▸Use Extract D to identify two significant points of comparison between the balance of trade in goods and the balance of trade in services over the period shown.
Explain how petrol and diesel cars may be a source of market failure?
What are the likely impacts of a sustained budget deficit for an economy?
Brainstorm whether the NHS is an example of Government failure