Provide a definition of the law of demand and explain how it can be used to determine prices. Provide an example of your own to illustrate this concept. Please help!

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asked Jan 15, 2019 186k views

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Andrew Delgadillo · Answer 1 · 2019-01-20T18:24:48+0000

The law of demand is when the price of a good increases, the quantity or amount of the good demanded decreases. As the price of the good decreases, the quantity demand increases. The higher the price of a good, the lower the demand for that good.

Provide a definition of the law of demand and explain how it can be used to determine prices. Provide an example of your own to illustrate this concept. Please help!

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