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What is the main aim of …

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What is the main aim of law of demand

Posted by Harsh Saini 6 years, 10 months ago

CBSE > Class 11 > Economics

2 answers

Rahul Yadav 6 years, 10 months ago

In simple words law of demand when price increases, then its demand decrease. And when prices decrease it's demand increases

Yaser Siddiquee 6 years, 10 months ago

The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded. This phenomenon occurs because when consumers' opportunity cost increases, they must give something else up or switch to a substitute product.

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