Economy, asked by arpita1347, 8 months ago

explain how population effects law of demand

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Current population size will affect future market demand through prices and supply elasticity. Population changes are slow, and consumption changes are slow

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In a market-oriented economic system, the impact of population size on market demand affects supply and demand and prices. Current market demand reflects the effect of supply and demand in previous periods. Current population size will affect future market demand through prices and supply elasticity.

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explain how population effects law of demand