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.
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...