Question

according to law of demand if other thing's reamin constant there is ____ relationship between price and demand of a commodity ? 1 postive 2 negative 3 proportional 4 no ​

Answer 1

A N S W E R :

According to law of demand if other thing's remain constant there is negative relationships between price and demand of a commodity.

The term 'other things being equal' implies that all other determinants of demand, other than own price of the commodity, remain constant.

Assumption of the Law of Demand :

• Tastes & preference of the consumers remain constant.
• There is no change in income of the buyers.
• Price of the related goods don't change.
• Consumers don't expect any significant change in the availability of the commodity in the near future.

Answer 2

Answer:

Question :-

According to law of demand if other thing's reamin constant there is ____ relationship between price and demand of a commodity.

Answer :-

Option (C)

Explanation :-

• The law of demand is the law of how the goods share is going. Some times, Its a profit or loss.

• The law of demand describes an inverse relationship between price and quantity demanded of a good.

• But the most important thing is to see that the demand is greater or demanded things are greater

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