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It helps to Determination of price. The study of law of demand is useful for a trader to fix the price of a commodity. And also law of demand explains consumer choice behavior when the price changes.

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Q: What Importance f law of demand?
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Related questions

What is an exampe of a law of demand?

law f exponent


What is the importance of law of demand?

determination of priceimportance to finance ministerto the farmer


What is demand and law of demand?

The law of demand is that when you demand something you MUST say please and thank you, it's the law.


Law of demand its types with examples?

it states that higher the price lower the quantity demand and vice versa.other things remain constant qdx=f(p)


What is derivation of law of demand?

Law of demand is the higher the price the lower of goods demand for


Why does the law of demand hold?

why does the4 law of demand holds


Law of demand and supply?

Consumers is the law of supply and demand.


What are importance of elasticity of demand in economics?

Importance of elasticity in economics


Example of law of demand?

marketing is a great example of law of demand


Define law of demand?

the law of demand state there is a negative or inverse relation ship


How is law of demand related to the demand curve?

Law of demand is the reason of the downward sloping of demand curve.Law of demand states the inverse relationship of demand of a commodity and it's price,and demand curve represents this inverse relationship of demand and price.So in this way they both are related.


How is the law of demand related to the demand curve?

Law of demand is the reason of the downward sloping of demand curve.Law of demand states the inverse relationship of demand of a commodity and it's price,and demand curve represents this inverse relationship of demand and price.So in this way they both are related.