Question

law of demand explain briefly ? under 6 marks answer. ​

Answer 1

Answer:

law of demand states that there exist an inverse relationship between price and demand keeping other factors constant.it means if we will demand more then price will reduce and vice versa keeping other factors constant like factors affecting individual and market demand as well.

demand price

1. 5

2. 4

3. 3

4. 2

5. 1

and with a downward sloping graph stating a inverse relationship between price and demand.