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people substitute relatively lower-priced goods for relatively higher-priced goods.
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∙ 11y ago
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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.
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
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 one reason for regional wage differences?
The law of supply and demand.
What is one of the major factors determining the level of wages?
The law of supply and demand.
Which of the following is one of the major factors determining the level of wages?
The Law of Supply and Demand.
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 the major factors determining the level of wages?
The law of supply and demand.
What is the major factors of determining the level of wages?
The law of supply and demand.
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.
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.
Why does law of demand and law of supply conflict with each other?
It's the law of supply and demand, as described by Adam Smith in his book "The Wealth Of Nations". Just one law, no conflict.
What is derivation of law of demand?
Law of demand is the higher the price the lower of goods demand for
Law of demand and supply?
Consumers is the law of supply and demand.
