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Law of Demand |
Also found in: Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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Law of Demand A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer demand for the good or service decreases, and vice versa. |
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However, assuming away the law of demand hardly qualifies as economic research. |
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Law of Demand
