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 14 options:

True

False

Question

Business

Tessa Costa

27 September, 02:52

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 14 options:

True

False

+4

Answers (2)

Know the Answer?

Cheyenne Henderson · Answer 1

True

Explanation:

The law of demand is an economics principle which states that the demand for goods or services will go up if prices reduce. This law argues that there an inverse relationship between the price and quantity demanded. The lower the price, the higher the demand. For example, if the price of bread goes up, then its demand will go down.

Felipe · Answer 2

I also got TRUE

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 14 options:TrueFalse

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 14 options:

True

False