Demand Curve
Definition
The demand curve illustrates the relationship between the quantity demanded of a good or service and its price. It shows that as prices decrease, consumers are willing to buy more of the good or service.
Related terms
Law of Demand: The principle that states there is an inverse relationship between price and quantity demanded.
Shift in Demand Curve: When factors other than price cause changes in the quantity demanded at each price level.
Elasticity of Demand: A measure of how responsive quantity demanded is to changes in price.
"Demand Curve" appears in:
Subjects (2)
AP Microeconomics
Intro to Business
Study guides (1)
AP Macroeconomics - 1.4 Demand
Additional resources (1)
AP Macroeconomics - Unit 6 Overview: Open Economy-International Trade and Finance
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CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
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Glossary
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Crisis Text Line
Help Center
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.