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What is the law of demand?

The law of demand states that as the price of a good or service rises the quantity demanded will subsequently decrease. Opposingly, lower prices cause an increase in quantity demanded. 

Nadia H. IB English Literature tutor, IB Economics tutor, GCSE Biolog...

7 months ago

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Adam D.

Degree: Economics and Management (Bachelors) - Bristol University

Subjects offered: Economics, Maths

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Degree: Philosophy, Politics & Economics (Bachelors) - Durham University

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Degree: BA Economics and Politics (Bachelors) - Exeter University

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Nadia H.

Degree: English (Bachelors) - Bristol University

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