What is the General shape of Demand curve ?
Answer & explanation
Correct answer: option 3
The correct answer is option (3) : Generally downward sloping to all normal goods
The law of demand states that there's an inverse relationship between the price of a good and the quantity demanded, all other factors remaining constant. This means as the price of a good increases, the quantity demanded decreases, and vice versa.This relationship is typically depicted by a downward sloping curve on a graph where the price is on the y-axis and the quantity demanded is on the x-axis.