Economy, asked by sahilsainiji51, 4 months ago

Bus State and explain law of Demand is

Answers

Answered by ltzSweetAngel

1

Answer:

Definition: 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.

Answered by XxBaByGiRL0106

4

Answer:

The law of demand states that as the price of a good decreases, the quantity demanded of that good increases. In other words, the law of demand states that the demand curve, as a function of price and quantity, is always downward sloping.

Explanation:

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