0
The general law of demand is that as demand increases, so will prices. This is half of the law of supply and demand. As supply increases, prices fall. So price depends upon a balance between supply and demand. This was originally pointed out by Adam Smith, in his book "The Wealth Of Nations".
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What is derivation of law of demand?
Law of demand is the higher the price the lower of goods demand for
Define law of demand?
the law of demand state there is a negative or inverse relation ship
What is regressive demand curve?
Regressive demand curve do not obey the first law of demand which states that the more the price of a commodity is decreased, thr greater the quantity that will be demanded. instead of continuingprogressively along thr general demand path, they suddenly turn and become regressive. It is a demand curve that turns and starts to go backwards.
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.
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.
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 does the government demand of us?
Basically, we pay our taxes, obey the law, and vote them back in at the General Elections.
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.
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.
What is regressive demand curve?
Regressive demand curve do not obey the first law of demand which states that the more the price of a commodity is decreased, thr greater the quantity that will be demanded. instead of continuingprogressively along thr general demand path, they suddenly turn and become regressive. It is a demand curve that turns and starts to go backwards.
What is an exampe of a law of demand?
law f exponent
Law of supply and demand which one starts?
In the law of supply and demand, the first to start is the demand as customers are wanting the particular service or product that is being offered.
