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Explain what is meant by the term demand. What is the law of demand?

User Gosia
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Answer:

Demand is dependent on quantity

Step-by-step explanation:

In microeconomics, the law of demand is a fundamental principle which states that, "conditional on all else being equal, as the price of a good increases, quantity demanded will decrease; conversely, as the price of a good decreases, quantity demanded will increase".

User Thinkdeep
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