Question

Why does the demand curve slope downward to right?

Solution

Demand curve slopes downward from left to right due to combined operation of (i) income effect and (ii) substitution effect. As a result quantity demanded of a commodity rises with a fall in price.

Some More Questions From Theory Of Consumer Behaviour Chapter

When does a consumer attain equilibrium according to indifference curve approach?

Give meaning of demand.

Name two determinants of demand.

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Theory Of Consumer Behaviour

Why does the demand curve slope downward to right?

Some More Questions From Theory Of Consumer Behaviour Chapter

When does a consumer attain equilibrium according to indifference curve approach?

Give meaning of demand.

Name two determinants of demand.

List the factors that cause changes in demand.

What is law of demand?

What is demand schedule?

Why does demand curve slope downwards?

Differentiate between substitute and complementary goods.

What is meant by one good being substitute of other?

What is meant by one good being complementary to another.

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