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What is law of denand

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What is law of denand

Posted by Nikita Verma 7 years, 5 months ago

CBSE > Class 12 > Economics

4 answers

S V 7 years, 5 months ago

Fantastic definition by Amit verma?

Amit Verma 7 years, 5 months ago

Desi bhasha me bole to, jse hi koi cheez ssti hoti h hum use jaada khareedte h or jb mahangi hoti h to hum use km khareedte h... yu smjho ki tum bazar me pyaaz lene ke liye chli gyi or tumne dekha ki pyaaz 10 rs. Kilo h to tum use jaada khareedogi maanlo 5kg. or next time jb tum baajar gyi tb 60 rs. Kg tb tum 1 kg. Hi khareedogi agar tum 1 rational consumer ho to...

Umul Fathima 7 years, 5 months ago

The law states that when all other thing remains constrant then there is inverse relationship between price of the commodity and quantity demanded of it. Thats is, higher the price, lower the demand and lower the price, higher the demand.

S V 7 years, 5 months ago

It means that demand and price of a good are in inverse relationship. When price of a good increases its quantity demand decreases and all other factors remain constant and vice versa. For e.g. you will demand more quantity (10 units) when price is rs 5 but demand reduces to 5 units when price is rs 10

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