💡The demand curve shows the relationship between the quantity of goods and services consumers are willing and able to buy at various prices.
📈There is an inverse relationship between price and quantity demanded, which is why the demand curve has a downward or inverse slope.
🔎By using the demand curve, businesses can estimate how a certain price increase will affect the number of items consumers will purchase.
💰Constructing estimated demand curves is important for businesses when they are setting prices for their products.
📊The demand curve can be used to estimate the quantity demanded at prices anywhere along the curve, not just the ones listed in a demand schedule.