Definition of Demand Curve

A Demand curve is a graphical relationship between the product or services price and the demand for those products or services. Price is represented on the vertical left side while demand is represented on the horizontal right side.  The slope goes down which shows when the price is high, the product or services demand is low and vice versa.

The downward slope representation shows that price is an independent variable while demand is a dependent variable.


Example of Demand Curve:

If the price of wheat goes up, people will buy less wheat and buy some rice to balance their food requirements.

Demand Curve

Source: Openstax

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