Give an account of the expectations to the law of demand
Answers
Answered by
1
Answer:
The Law of Demand states that the quantity demanded for a good or service rises as the price falls, ceteris paribus (or with all other things being equal). Therefore, the Law of Demand is an inverse relationship between price and quantity demanded.
Answered by
1
Answer:
The law of demand states that all other things being equal, the quantity bought of a good or service is a function of price. If the amount bought changes a lot when the price does, then it's called elastic demand. An example of this is ice cream. You can easily get a different dessert if the price rises too high.
Similar questions