Economy, asked by mohitnoorkaurpawar, 1 month ago

Critically explain the law of demand

Answers

Answered by chanannadiwal35

3

Answer:

Definition of 'Law Of Demand'

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 KrithikaQueen

8

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.

Explanation:

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