ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The law of demand states that a higher price leads to a lower quantity demanded and that a lower price leads to a higher quantity demanded.

Detailed explanation-2: -The law of demand states that when the price of a product goes up, the quantity demanded will go down – and vice versa.

Detailed explanation-3: -The Law of Demand. The law of demand says that rising prices reduce demand.

Detailed explanation-4: -Economists call this the Law of Demand. If the price goes up, the quantity demanded goes down (but demand itself stays the same). If the price decreases, quantity demanded increases. This is the Law of Demand.

Detailed explanation-5: -The Law of Demand states that there is an indirect relationship between the price of a good or service and the quantity of that good or service that consumers are willing and able to buy. In other words, as the price of an item increases, buyers are less willing and able to buy it and vice versa.