A graph showing how the demand for a commodity or service varies with changes in its price.
- However, the position of the demand curve for labour can vary according to either the level of capital employed or the price of the output good.
- Economists use a demand curve to display water's worth to consumers (their willingness to pay).
- What we have here is a classic demand curve and the demand curve is always downward-sloping, because the more you charge, the fewer people will be willing to buy your software.
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