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Define law of demand?
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Asked 6/2/2012 4:49:08 AM
Updated 94 days ago|5/13/2018 12:10:12 PM
1 Answer/Comment
This conversation has been flagged as incorrect.
Edited by yumdrea [5/13/2018 11:52:57 AM], Flagged by yumdrea [5/13/2018 11:52:59 AM]
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User: Define law of demand?

Weegy: In economics, demand is the desire to own anything, the ability to pay for it, and the willingness to pay. The term demand signifies the ability or the willingness to buy a particular commodity at a given point of time.
josh_josue|Points 265|

Question
Asked 6/2/2012 4:49:08 AM
Updated 94 days ago|5/13/2018 12:10:12 PM
1 Answer/Comment
This conversation has been flagged as incorrect.
Edited by yumdrea [5/13/2018 11:52:57 AM], Flagged by yumdrea [5/13/2018 11:52:59 AM]
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The law of demand states that, "conditional on all else being equal, as the price of a good increases ( ), quantity demanded decreases ( ); conversely, as the price of a good decreases ( ), quantity demanded increases ( )"
Added 94 days ago|5/13/2018 12:10:12 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [5/14/2018 4:24:49 PM], jeifunk [5/14/2018 4:24:49 PM]
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