Question

what is the basis law of demand ​

Answer 1

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.

Example:

There is a drought and very few strawberries are available. More people want the strawberries than there are berries available. The price of strawberries increases dramatically. A huge wave of new, unskilled workers come to a city and all of the workers are willing to take jobs at low wages.

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Answer 2

Explanation:

The law of demand states that other factor being constant price and quality demand of any good and service and inversely related to each other. When the price of a product increases the demand for the same product will fall