The correct answer is E: it shows the relationship between product demand and product price.
Hence the correct answer is- The true context of market demand is the total volume that would be bought by a defined customer.
demand curve, in economics, a graphic representation of the relationship between product price and the quantity of the product demanded. It is drawn with price on the vertical axis of the graph and quantity demanded on the horizontal axis.
Demand curve. A graphical representation of the demand schedule. it shows the relationship between quantity demanded and price. Law of Demand. A higher price for a good or service, other things equal, leads people to demand a smaller quantity of that good or service.
Price. Price is often the factor that has the most influence in the demand for a product. To derive a demand curve, you must know what each consumer is willing to pay for the product you are offering. Price and demand are directly related to each other.
At any given point in time, the supply of a good brought to market is fixed. In other words, the supply curve, in this case, is a vertical line, while the demand curve is always downward sloping due to the law of diminishing marginal utility.
Textbook solution The demand curve is a graphic presentation of a demand schedule expressing the relationship between different quantities of a commodity at different possible prices.
The demand curve shows the amount of goods consumers are willing to buy at each market price....Demand curve formulaQ = quantity demand.a = all factors affecting price other than price (e.g. income, fashion)b = slope of the demand curve.P = Price of the good.
Demand curve has two types individual demand curve and market demand curve. It displays a graphical representation of demand schedule. It can be created by plotting price and quantity demanded on a graph. In demand curve, the price is represented on Y-axis, while the quantity demanded is represented on X-axis on graph.
(Affected by increase in income, etc.) ...a specific point on the same demand curve usually affected by the change in the price of a good. Demand curves are drawn with determinants other than the price of the good held constant.
A curve that shows the relationship between the price of a product and the quantity of the product demanded.
Using a demand schedule, the quantity demanded per each individual can be summed by price, resulting in an aggregate demand schedule that provides the total demanded specific to a given price level. The plotting of the aggregated quantity to price pairings is what is referred to as an aggregate demand curve.