0
marketing is a great example of law of demand
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
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 and supply?
Consumers is the law of supply and demand.
Why does the law of demand hold?
why does the4 law of demand holds
Definition for ''law of demand''?
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.
What is an example of change in demand?
Well to answer the question lets go back a few steps: In Economics: Law of Demand ( according to investopedia) - A microeconomic law that 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 and vice versa. Here's a graph of what a typical demand curve looks like: click the NeTMBA link that follows this answer So now that we know what the Law of Demand is now lets see what effects it. The Law of Demand is affected by: * Customer Preference * Income * Number of Potential buyers * Expectations of Price Change * Price of Related goods- Complements and Substitutes Complements- a good often consumed together with another good in economics. So if the Price of complements goes up then the demand for the good goes down thus shifting the graph to the left. Substitutes- A good where in can be used in place of another. There are other factors that effect it but the list above are some of the most common ones. I hope this helps with understanding the law of demand. To find an example of this click on the NeTMBA link that follows to see it.
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
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.
Define law of demand?
the law of demand state there is a negative or inverse relation ship
What is example of full demand?
current demand of mobile phone set can be an example of Full demand.
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.
The law supply and demand and give an example of how it relates to the environment?
Demand refers to how much of a product or service is desired by buyers, and supply represents how much the market can offer. ChaCha 24/7!
Law of supply and demand Give an example of how it relates to the environment?
Demand refers to how much of a product or service is desired by buyers, and supply represents how much the market can offer. ChaCha 24/7!
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.
