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Definition of law of demand

Definition of law of demand: It is the claim that, other things equivalent, the quantity demanded of a good drops/falls whenever the price of the good increases.

   Related Questions in Microeconomics

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    The most compatible along with capitalism of the normative criteria for income distribution, which is the: (1) contribution standard. (2) gold standard. (3) needs standard. (4) balanced standard. (5) equality standard.

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