15 | LAW OF DEMAND-MEANING & ASSUMPTIONS (MICROECONOMICS CLASS 12)-CEP CLASSES

In This video you will learn about LAW OF DEMAND (Its Meaning Schedule, Curve and Assumptions)

LAW OF DEMAND states inverse relation between price and quantity demanded, keeping other factors constant.

[CETERIS PERIBUS implies other factors/things are constant]

Demand curve becomes downward sloping showing inverse relation between price and demand.

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