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Law of Demand

The document discusses the law of demand, which states that the quantity demanded of a good falls as its price rises, and vice versa. A graph is shown plotting the quantity demanded against price for three different scenarios, with each series showing an inverse relationship where quantity demanded decreases as price increases across the four categories.

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Pankaj Chauhan
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© Attribution Non-Commercial (BY-NC)
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34 views2 pages

Law of Demand

The document discusses the law of demand, which states that the quantity demanded of a good falls as its price rises, and vice versa. A graph is shown plotting the quantity demanded against price for three different scenarios, with each series showing an inverse relationship where quantity demanded decreases as price increases across the four categories.

Uploaded by

Pankaj Chauhan
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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LAW OF DEMAND

IT STATES THAT THERE IS INVERSELY


RELATIONSHIP BETWEEN QUANTITY
DEMANDED AND PRICE OF THE COMMODITY

Series 1
3
Series 2
Series 3
2

0
Category 1 Category 2 Category 3 Category 4

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