Question

aim of demand in micro economics
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Answer 1

Answer:

Demand theory is a principle relating to the relationship between consumer demand for goods and services and their prices. Demand theory forms the basis for the demand curve, which relates consumer desire to the amount of goods available. As more of a good or service is available, demand drops and so does the equilibrium price.

Answer 2

Conversely ,when demand is lower than supply ,prices fall due to the surplus .The law of demand introduces an inverse relationship between price and demand for a good or service .It simply states that as a price of commodity increases ,demand decreases ,provide other factor remains constant