Law of demand shows relation between _______
Income and price of commodity
Income and quantity demand
Quantity demanded and quantity supplied
Price and quantity of a commodity
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The law of demand states that other factors being constant (cetris peribus), price and quantity demand of any good and service are inversely related to each other. When the price of a product increases, the demand for the same product will fall.
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law of demands shows realetion between income and price of commodity
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