Discussion
In normal conditions, the demand curve for a commodity :
Answer: B
Normally the demand curve slopes downwards from left to right.
The law of demand says that, other things being equal, the quantity demanded rises as price falls and falls as price rises. Plotted with price on the Y-axis and quantity on the X-axis, this inverse relationship gives a curve sloping down to the right. It reflects the substitution effect, the income effect and diminishing marginal utility.
An upward-sloping curve occurs only in exceptional cases such as Giffen goods. A horizontal curve shows perfectly elastic demand and a vertical curve perfectly inelastic demand, both theoretical extremes rather than normal conditions.
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