Economy, asked by addyboy16, 1 year ago

any suggestions for the law of demand?


deepa8515: The law of demand is one of the most fundamental concepts in economics

Answers

Answered by meenakshimeena56
0

here is your answer mate

the law of demand states that, "conditional on all else being equal, as the price of a good increases, quantity demanded decreases; conversely, as the price of a good decreases, quantity demanded

please mark as brainliest


addyboy16: thanks but this is not that what im looking for
meenakshimeena56: sorry for that
Answered by sarimkhan112005
0

Explanation:

The law of demand states that other factors being constant (cetris peribus), price and quantity demand of any good and service are inversely related to each other. When the price of a product increases, the demand for the same product will fall.

The law of demand states that all other things being equal, the quantity bought of a good or service is a function of price. ... If the amount bought changes a lot when the price does, then it's called elastic demand. An example of this is ice cream. You can easily get a different dessert if the price rises too high


sarimkhan112005: mark as brainliest plz
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