Explain Why a Demand Curve Slopes Downward

question 62

Essay

Explain why a demand curve slopes downward.

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Definitions:

Legality

The state of being in accordance with the law; legality refers to conformity with statutes and regulations.

Consideration

In contract law, something of value exchanged between parties that is essential for a valid and enforceable contract.

Public Officials

Individuals elected or appointed to carry out governmental duties and responsibilities.

Give Consideration

To provide something of value such as money, goods, or services as part of a contract or agreement.