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help required: law of demand

 
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help required: law of demand
israrhere
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#1
07-31-2006, 09:12 PM
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
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#2
08-01-2006, 07:54 AM
don't worry......economics graphs are not like maths graphs...just think of it as a stupid practice....don't worry abt i
israrhere
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#3
08-01-2006, 08:48 PM
But it must have a reason yar.what do u think......?
maani
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#4
08-03-2006, 06:38 PM
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
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#5
08-04-2006, 04:50 AM
NO confusion now. I got ur answer, THANKS.
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