From ZuluNotes - Free Leaving Cert Notes
| Law of Demand
|
|
| Subject: | Economics
|
| Paper |
|
| Section | Demand
|
| Question |
|
| Level | H&O
|
| Note |
|
|
|
|
|
The law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. Most goods follow this law, but there are exceptions, such as:
a
For more information, see: Demand