What is the law of demand?

  • Google+ icon
  • LinkedIn icon
  • 695 views

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...

About the author

is an online IB Economics tutor who has applied to tutor with MyTutor studying at Bristol University

Still stuck? Get one-to-one help from a personally interviewed subject specialist.

95% of our customers rate us

Browse tutors

We use cookies to improve your site experience. By continuing to use this website, we'll assume that you're OK with this. Dismiss

mtw:mercury1:status:ok