3 years ago

Which of the following statements correctly defines the law of demand?

History

1 answer:

drek231 [11]3 years ago

3 0

Answer:

It's The lower the price of a commodity, the greater the quantity of that commodity that is demanded.

Explanation:

The law of demand is the basic principle of demand that states that as the price of a commodity is inversely proportional to the demand of any good or service. If the price of a particular commodity lowers the greater the demand quantity of the commodity. This is because a greater number of people will flock the market and also new customers will want to purchase the commodity due to the low price

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