Demand Curve

Demand is "the quantity of a commodity that will be required at any given price over some given period of time". "For the majority of the goods and services, experience shows that the quantity demanded will increase as the price falls." (Stanlake 155) This characteristic can be shown by a demand curve. A demand curve is a graphical representation of the data in table with values of demand called a demand schedule. A good that is …

…income to buy more necessary foods because of the better value. A second example of exceptional demand curves are presented by goods which have a elitist appeal. Some wealthy people buy things because they are expensive. Goods bought for pretentious reasons, a fall in price may cause them to loose it's appeal and the quantity demanded might fall. In this case, these goods would not be a very effective way of showing off ones wealth.