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What is law of demand

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What is law of demand

    • Posted by Sehrish Ali 7 years, 11 months ago

    CBSE > Class 12 > Economics
    • 3 answers

    Shivani Nagar 7 years, 11 months ago

    Ceteris peribus does not state the inverse relatinship between price and quantity demanded, It only indicates that other things remaining constant ( like prices of related goods, income of the consumer, etc)

    2Thank You

    Payal Rana 7 years, 11 months ago

    In simple words, law of demand shows inverse relationship between price and demand and others factors like consumers income, taste and preferences etc remains constant...

    0Thank You

    Insha Fatima 7 years, 11 months ago

    Ceteris peribus, it states that the price of the commodity is inversely proportional to the quantity demanded by the consumer

    0Thank You

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