law of demand

Law of Demand

Law of demand states that there is an inverse relationship between the price of any commodity and its quantity demanded provided other factor remaining constant, i.e. if the price of any commodity increases then its quantity demanded decreases and if the price falls then quantity demanded decreases providing other factor remaining constant. In the words of marshal “law of demand shows an inverse relation of price of any commodity and its price cet per.”
 

       price                 QTY

       10                   100
       12                    80
         8                  120