subject is economics
law of demand
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The law of demand is the inverse relationship between price of a commodity and the demand for that particular commodity. Thus it means that when the price of a commodity increases, the demand for it decreases and vice versa
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hope it sufficed.
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Law of demand explains consumer choice behavior when the price changes. In the market, assuming other factors affecting demand being constant, when the price of a good rises, it leads to a fall in the demand of that good. This is the natural consumer choice behavior. This happens because a consumer hesitates to spend more for the good with the fear of going out of cash.
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