Question

The "law of demand" is described as a "law" because, like the law of gravity, it describes a predictable pattern in how our world works. Let’s say you've decided to buy a shirt you really like because it's on sale. In fact, because this price is so good, you decide to buy two shirts in different colors. What would be the benefit to you of doing this? Why do you think that, over and over again, people are more likely to buy something (or more of something) when the price is lower? In your answer, discuss a real life example.

Answer 1

Explanation:

according to the LAW OF DEMAND other things remains the same,the quantity demanded of a commodity increases when it's price falls & decreases when it's price rose.

this is because with the fall in Price the purchase power rises too for example

suppose you have ₹200 and you purchased 2kg of apples as there cost is 100per kg.The price of apple falls to ₹80 so now you can purchase some more apples with the same amount of money.

Answer 2

Answer:

the answer above is right

Explanation:

according to the LAW OF DEMAND other things remains the same,the quantity demanded of a commodity increases when it's price falls & decreases when it's price rose.  this is because with the fall in Price the purchase power rises too for example  suppose you have $200 and you purchased 2kg of apples as there cost is 100per kg.The price of apple falls to $80 so now you can purchase some more apples with the same amount of money.