Demand curve of most commodities is Negatively sloped in case of most commodities indicating Negative Relationship Price and QD
However, in case of Giffen Goods Demand Curve is Positively sloped
Likewise, are there any goods for which supply curve is NEGATIVELY SLOPED????

Dear Student,

The supply curve of any profit-maximising firm will never be negatively sloping - a firm would always want to supply more at a higher price to increase its profits. However, the labour supply curve, in Economics, is considered to be "backward bending". Any worker has a choice between two options of utilising his/her time - work or leisure. This is because, initially, at a low wage rate, the worker prefers work to leisure. Here, the worker will prefer to work more, as the wages continue to rise. However, with further increase in the wage rate, the worker prefers leisure to work. Thus, initially, an increase in the wage rate causes an increase in labour supply. As a result, increase in wages beyond a point causes labour supply to fall. The word negative is inappropriate for a supply curve, hence, the term, backward bending.

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