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Law of demand is the higher the price, the less quantity is demanded. Price is on y (verticle axis) and quantity is on x axis (horizontal axis). Supply curve (curve in this case is a straight line) starts from origin, increases on a 45deg angle, Demand curve starts from high price/low quantity to low price, high quantity. Draw a table with demand column and price column, and a price increases, demand decreases.
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Briefly discuss Demand with the help of example?
Demand is a schedule which shows the various amounts of product consumers are willing and able to purchase at each price in a series of possible prices during a specified period of time.
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