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Define law of demand?
the law of demand state there is a negative or inverse relation ship
Explain the say's law in economics?
states that supply creates its own demand.
Explain why the law of demand can apply only in a free market?
Because the free market is the entity that in itself dictates the law of supply and demand. If the purchasing public has a high demand for a product, then more of that product is produced. Conversely, if there is only a low demand for a product, less of that product is produced.
Explain the law of supply in your own words?
Law of supply: If demand is held constant, an increase in supply leads to a decreased price, while a decrease in supply leads etc
Explain Why the law of demand can apply only in a free market economy?
The law of demand is that, all other factors held constant, the quantity of a good demanded increases as the price of that good falls. In a command economy, unlike a free market economy, it is the govenment, not market supply and demand,that determines prices.
Define law of demand?
the law of demand state there is a negative or inverse relation ship
Explain the say's law in economics?
states that supply creates its own demand.
Explain why the law of demand can apply only in a free market?
Because the free market is the entity that in itself dictates the law of supply and demand. If the purchasing public has a high demand for a product, then more of that product is produced. Conversely, if there is only a low demand for a product, less of that product is produced.
State and explain the effect of breaking copyright law in Ghana?
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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.
Explain the law of supply in your own words?
Law of supply: If demand is held constant, an increase in supply leads to a decreased price, while a decrease in supply leads etc
Explain Why the law of demand can apply only in a free market economy?
The law of demand is that, all other factors held constant, the quantity of a good demanded increases as the price of that good falls. In a command economy, unlike a free market economy, it is the govenment, not market supply and demand,that determines prices.
Explain law of demand?
Law of demand is an important law of economics. It establishes a relationship between price and demand.other things renaming the same when the price of commodity falls its demand will go up likewise,when the price of the commodity rises its demand will fall price and demand moves in opposite direction.there is inverse relationship between demand and price.in other words low price high demand high price low demand.
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.
The law of demand state that all else constant?
The law of demand states that all other factors being equal, as the price of a good or service increases, consumer demand for the good or service will decrease. The opposite happens if the price decreases the need for the good or service increases.
