Author Topic: Demand Law  (Read 326 times)

Offline Md. Alamgir Hossan

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Demand Law
« on: April 15, 2017, 04:49:34 PM »
The law of demand states that other factors being constant   price and quantity demand of any good and service are inversely related to each other. When the price of a product increases, the demand for the same product will fall.
In a specific period, when other things hold remaining constant.
If the price of any goods/service is increased, the demand of that goods/service will be decreased.  On the other hand, the price of any goods/service is decreased, the demand of that goods/service will be increased.