Economy, asked by Mohit0813, 11 months ago

What do you mean by law of demand.

Answers

Answered by Anonymous

LAW OF DEMAND REFERS TO WHEN THE PRICE OF A COMMODITY IS INCREASED THE DEMAND FOR A COMMODITY FALLS, IF THE PRICE OF A COMMODITY DECREASES THE DEMAND FOR THE COMMODITY INCREASES.

The demand curve slopes downward from left to right or has a negative slope.

Answered by Anushka1047

Law of demand : the law of demand state that other factors being constant price and quality demand of any good and service are inversely related to each other. When the price of a product increase the demand for the same product will fall.

Previous Question

Next Question

Similar questions

Political Science, 5 months ago

Qus. 22. As a citizen of a democratic country, what is your expectations from the political system?

Math, 5 months ago

3. 25(5x – 3y)2 – 16(3x – 2y)2 ...

Math, 5 months ago

in tha adjoing fig. in triabgle abc a- p- b and a- q. - c prove that A( apq) / A ( abc ) = ap* aq/ ab *ac...

CBSE BOARD X, 11 months ago

Vapour content in air is measured using a physical quantity called ..... (A) Absolute Humidity (B) Relative Humidity (C) Dew point (D) Humidity...

Science, 11 months ago