The law of demand indicates thata. every physical good has a use. b. when people want a good badly enough, they will find a way to pay for it. c. the desire for a good is unrelated to its price. d. the quantity of a good that people will buy is inversely rel

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Business

Peter

11 April, 16:49

The law of demand indicates thata. every physical good has a use. b. when people want a good badly enough, they will find a way to pay for it. c. the desire for a good is unrelated to its price. d. the quantity of a good that people will buy is inversely rel

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Juliette Levy · Answer 1

The law of demand indicates that the quantity of a good that people will buy is inversely related to the product's price.

Explanation:

The law of demand has become one of the commercially most basic principles.

This functions with the supply legislation to clarify how market economies employ capital and to create the prices of products and services that we experience in day-to-day life.

The market law stipulates that the quantity bought varies inversely from price to price. The higher the cost, the less the quantity demanded.

Price changes may reflect movements on the demand curve, but does not reduce demand by itself. The form and scale of demand change, NOT in the case of price changes in response to adjustments in consumer preferences, sales or associated economic commodities.