Respuesta :
Answer: Demand curve
On a graph, a demand curve shows the demand portion of equilibrium.
Explanation:
A demand curve refers to a visual representation of the connection or relationship between the price of a product (good) or service and the quantity demanded at a given period of time. It is a downward sloping economic graph where the price is plotted on the vertical (Y) axis while quantity is plotted on the horizontal (X) axis. It is used to demonstrate the law of demand which states that as prices for a good or service increase, the quantity demanded decreases.
On the graph, a demand curve shows the demand portion of the equilibrium.
Further Explanation:
Demand curve: This option is correct.
The demand curve represents the relationship between the quantity demanded of a good or service and the price of that good or service for a given the on the graph. In the case of equilibrium, the demand curve represents quantity demanded at the equilibrium point.
Supply Curve: This option is incorrect.
The supply curve shows the relationship among the price of the products and quantity of product which a seller is willing to supply at a given point of time. Therefore, the supply curve represents the quantity supplied the not the quantity demanded.
Equilibrium Point: This option is incorrect.
The equilibrium point refers to the point where the demand curve and supply curve intersect. The price at which the quantity demanded is equal to quantity supplied. Therefore, it does not represent the demand portion of the equilibrium.
Excess Supply: This option is incorrect.
When the quantity supplied exceeds the quantity demanded, it represents the excess supply. In the case of equilibrium, it lies above the equilibrium price. Thus, it does not show the demand portion of the equilibrium.
Learn more:
1. Demand and type of goods
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2. Demand and supply of goods
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3. Elasticity of demand
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Answer details:
Grade: Senior School
Subject: Economics
Chapter: Price and Quantity Equilibrium
Keywords: demand portion of the equilibrium, demand curve, supply curve, equilibrium point, excess supply, on a graph, Price and Quantity Equilibrium, elasticity of demand, quantity demanded.
