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Meaning of law of demand | Babel Free

Noun CEFR C1

Definitions

A principle which states that there exists an inverse relationship between the price of a good and the quantity demanded, such that as the price rises, the quantity demanded falls, and vice versa.

CEFR level

C1
Advanced
This word is part of the CEFR C1 vocabulary — advanced level.

See also

Law of Demeter law of diminishing marginal utility law of diminishing returns law of double negation law of excluded middle law of Hobson-Jobson

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