vitÂ·riÂ·fy (vÄ­tâ²rÉ-fÄ«â²) v. vitÂ·riÂ·fied, vitÂ·riÂ·fyÂ·ing, vitÂ·riÂ·fies v.tr. To change or make into glass or a glassy substance, especially through heat fusion. v.intr. To become vitreous.
We draw a demand curve to show the relationship between the price of the good and the quantity that consumers are willing to buy. For example, suppose people are willing to buy 20 pounds of strawberries at a price of $2, but are willing to buy 30 pounds if the price falls to $1.
A market demand schedules depicts various quantities of a commodity in the market at different prices in a given point of time. A demand schedule can be graphically represented. The graphical representation of demand schedule is known as demand curve. A demand curve can be drawn either on the basis of an individual demand schedule or on the basis of a market demand schedule. The horizontal axis measure quantity of a commodity and the vertical axis measures the price of it. By plotting different points of price-quantity combinations we get a curve which slopes negatively from left to right. This curve is the demand curve.