2.1.3—Demand curve

A demand curve plots price on the vertical axis and quantity demanded per stated period on the horizontal axis. It normally slopes downward from left to right, representing the law of demand.

Every point pairs one price with the quantity consumers are willing and able to buy, ceteris paribus. A demand schedule can be transferred point by point to the curve.

Label both axes and units, plot each price–quantity pair accurately, and describe the inverse relationship without treating the line as a time trend.

If quantity demanded is 100 units at $5 and 130 at$4, plot $(100,5)$ and $(130,4)$; the second point lies lower and farther right.

The curve is a model for a defined good, market and period. Movements and shifts are assessed separately in Objective 2.1.6.