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Explain the reasons for demand curve slopes downward

Explain the reasons for demand curve slopes downward.

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Demand curve slopes downward it starts from left to right that is called Negative Slope. There are several causes for downward sloping of demand curve as follows:

• Law of Diminishing Marginal utility and Principle of Equal Marginal Utility
• Income and Substitution effect.
• Various uses of a commodity and Psychology of people.
• Affinity of human beings to satisfy/unsatisfied needs.

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