The Law of Demand is a rule stating that more will be demanded at lower prices and less at higher prices; inverse relationship between price and quantity demanded.

Question 15 options:

True

False

False

Explanation:

The statement is not true because the demand law states that the amount acquired changes conversely with a cost. As it were, the higher the value, the lower the amount requested. This happens due to lessening minor utility.

Demand law is one of the essential ideas in financial aspects. It works with the law of supply to clarify how market economies assign assets and decide the costs of products and enterprises that we see in ordinary exchanges. The demand law expresses that the amount obtained fluctuates contrarily with a price.