Which factors are constant in case of law of demand?
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Law of demand States that.....remaining other factors constant there is an inverse relationship between the own price of the commodity and the quantity demanded. .......
Other factors are included-------
1 Price of related goods as substitution and complementary....
2 Income of the consumer
3 Future expectations
4 Tastes and Preferences
5 No of buyers
6 Distribution of income
these all above factors remains constant in law of demand....
Other factors are included-------
1 Price of related goods as substitution and complementary....
2 Income of the consumer
3 Future expectations
4 Tastes and Preferences
5 No of buyers
6 Distribution of income
these all above factors remains constant in law of demand....
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