explain law of demand?
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law of demand
the law of demand states that, other things being equal, quantity demanded increases with a decrease in own price of the commodity, and vice versa. in other words, there is an inverse relationship between quantity demanded of a commodity and its own price, other things remaining constant. the term 'other things being equal' imperious that all other determine minutes of demand, other than own price of the commodity, remains constant .
the law of demand states that, other things being equal, quantity demanded increases with a decrease in own price of the commodity, and vice versa. in other words, there is an inverse relationship between quantity demanded of a commodity and its own price, other things remaining constant. the term 'other things being equal' imperious that all other determine minutes of demand, other than own price of the commodity, remains constant .
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