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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...

11 months ago

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Balraj D.

Degree: PPE (Philsophy, Politics & Economics) (Bachelors) - Warwick University

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