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+--- Thread: help required: law of demand (/thread-help-required-law-of-demand)
help required: law of demand - israrhere - 07-31-2006
In 'law of demand' quantity demanded is dependent variable while price is independent,but generally we take dependent variable on y-axix and independent on x-axix. Please help me about this confusion. Thanks.
- noman - 08-01-2006
don't worry......economics graphs are not like maths graphs...just think of it as a stupid practice....don't worry abt i
- israrhere - 08-01-2006
But it must have a reason yar.what do u think......?
- maani - 08-03-2006
It is a general practice to take Dependent variable on Y-Axis and Independent on X-Axis....it is a "general practice", not a "Rule"...so you can take independent variable on any of the axis...
now take a demand schedule and draw a curve taking price on x-axis and quantity demanded on y-axis...you will sill get a negative sloped demand curve...
still any confusion on queries?
- israrhere - 08-04-2006
NO confusion now. I got ur answer, THANKS.