answersLogoWhite

0


Best Answer

In economics, the law of demand states:

- As the price of a good or service increases, the demand for that good or service will decrease.

- As the price of a good or service decreases, the demand for that good or service will increases.

User Avatar

Wiki User

15y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Definition for ''law of demand''
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

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.


What is derivation of law of demand?

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


What is the definition of Full Demand?

a demand that's full


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 the conditions that give rise to the definition of economics?

The conditions that give rise to the brief definition of economics is the law of supply and demand. Markets fluctuate according to how much is produced and how much is sold.


Example of law of demand?

marketing is a great example of law of demand


What is the definition of Economic Demand?

no answer


What are the conditions that give rise to the brief definition of economics?

The conditions that give rise to the brief definition of economics is the law of supply and demand. Markets fluctuate according to how much is produced and how much is sold.


Define law of demand?

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


What is the Definition of Sufficient Demand?

The amount of Demand that is Sufficient enough for the Business or Product


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.