Economy, asked by sharmideyapdgmailco, 1 year ago

what is law of demand?

Answers

Answered by SmileQueen
3
microeconomics, the law of demand states that, "conditional on all else being equal, as the price of a good increases, quantity demanded decreases; conversely, as the price of a good decreases, quantity demanded increases".
Answered by aakash1238114
0

Other things being equal,price of a good is inversely proportional to demand of that good.

In other words,the higher the price of the good is the lower the demand will be and vice versa.

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