- Demand, law of
-
Other things being held constant, the lower the price of a good (or service), the greater the quantity of it that will be demanded by purchasers at any given time.
[See also: demand curve, demand schedule, demand, law of supply]
Other things being held constant, the lower the price of a good (or service), the greater the quantity of it that will be demanded by purchasers at any given time.
[See also: demand curve, demand schedule, demand, law of supply]
A Glossary of Political Economy Terms copyright © 1994-2005 Paul M. Johnson
Department of Political Science, 7080 Haley Center, Auburn University, Auburn, AL 36849