This is the rule stating that more of a product will be consumed at a lower price and less will be consumed at a higher price.

Question

Social Studies

Geovanni Prince

4 September, 17:00

This is the rule stating that more of a product will be consumed at a lower price and less will be consumed at a higher price.

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Answers (2)

Know the Answer?

Triston Edwards · Answer 1

Law of Demand is the answer to this question.

Kaeden Cohen · Answer 2

Law of Demand is the rule stating that more of a product will be consumed at a lower price and less will be consumed at a higher price.

Explanation:

The law of demand is the connection among cost and amount requested of with the the outstanding prices together with other known and most significant acts of financial theory. As per the requirement of interest, different things being equivalent, if the price of wages falls, the amount requested of it will rise, and if the price of the wage increases, its amount required will decrease.

Subsequently, as indicated by the law of demand, there is a backward connection among cost and amount requested, different products continuing as before.