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Give two examples of how you have observed the law of demand at work in the real world?
Wiki User
∙ 9y ago
The law of demand is that at higher prices, a lower amount of product will be demanded. A higher amount of product will be in demand if the prices are low. Two examples of this observed in the real world include gas prices going up and people buying less gas. Another example is the opposite with lower gas prices and people driving more.
Wiki User
∙ 9y ago
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