Economic for Business Decisions and Quantitative Decision Making

With an increase in the price of VCR tapes it is expected that the demand for the VCR tapes will decrease. With price taken on y-axis and quantity taken on the x-axis, the relation ship between these two is usually exhibited through a curve which is known as demand curve. The demand curve basically exhibits the trend, that an increment in price reduces the demand accordingly. The result would be a left shifted demand curve.