3 ms·
Demand is a slope, not a point. Price increases left shift demand, prices decreases right shift demand. This is because more people are willing to buy a good at
by viridian 4y ago
Demand is a slope, not a point. Price increases left shift demand, prices decreases right shift demand. This is because more people are willing to buy a good at a cheaper price than a more expensive one.
In this context demand is the total desire of the market to consume that good at all, represented by a slope that has an inverse relationship with the price axis.