Question

define law of demand. king back✌✌✌​

Answer 1

Answer:

The law of demand is a fundamental principle of economics that states that at a higher price consumers will demand a lower quantity of a good. Demand is derived from the law of diminishing marginal utility, the fact that consumers use economic goods to satisfy their most urgent needs first.

Answer 2

In microeconomics, the law of demand is a fundamental principle which states that there is an inverse relationship between price and quantity demanded.