146,653 views
16 votes
16 votes
According to the law of demand, during a given period of time, the quantity of a good demanded.

User Moddaman
by
2.8k points

1 Answer

20 votes
20 votes

Answer:

The Law of demand expresses the relationship between price and quantity demanded of a given commodity. It states that “ the quantity demanded increases with a fall in price and diminishes with rising in price, other things being equal.” This happens because of the law of diminishing marginal utility.

Step-by-step explanation:

User Dreen
by
2.6k points