Question 5 - MCQ Questions (1 Mark) - Chapter 1 Class 7 Economics - Introduction to Demand and Supply - Economics

Last updated at July 13, 2026 by Teachoo

What is the term for a graph that shows the relationship between the price of a product and the quantity that consumers are willing to buy?

Answer:

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So, the correct answer is option (B): Demand Curve .

Let’s check all the options:

Option (A) Supply curve - This is a different graph that shows the relationship between the price of a product and the quantity that producers are willing to sell. A supply curve usually goes up from left to right, meaning that producers are willing to sell more when the price is higher. So, this is incorrect .
Option (B) Demand curve - A demand curve is a graph that shows how much of something consumers are willing to buy at different prices. A demand curve usually goes down from left to right, meaning that consumers are willing to buy more when the price is lower. This is the correct term for a graph that shows the relationship between the price of a product and the quantity that consumers are willing to buy. So, this is correct .
Option (C) Production curve - This is not a graph that shows the relationship between price and quantity, but a graph that shows the relationship between output and input. A production curve shows how much output can be produced with different combinations of inputs. So, this is incorrect .
Option (D) Consumption curve - This is not a term that is used in economics, but it may refer to a graph that shows the relationship between income and consumption. A consumption curve shows how much income is spent on consumption and how much is saved. So, this is incorrect .

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