demand CURVE
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supply
CURVE
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1.
Meaning
Demand curve is the graphical
representation of a given demand schedule. It shows variations in the
quantity demanded in response to change in price.
2.
Price Relationship
There exist an inverse relationship between
the quantity demanded and the price of a given commodity.
3.
Slope of the curve
The demand curve slopes downwards form the
left to right. It has negative slope.
4.
Behaviour
Relationship
The demand curve indicates
buyers’ behaviour in response to change in price.
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Supply curve is the graphical
representation of a given en supple schedule. It shows the variations in the
quantity supplied in response to change in price.
There exist an direct
relationship between the quantity supplied and the price of a given
commodity
The supply curve slopes upwards from left to right. It has
positive slope.
The supply curve indicates sellers’ behaviour in response to change
in price.
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DEMAND CURVE SUPPLY CURVE
