Ask Question
HistoryHistory
18 November, 04:45

What 3 concepts explain the law of demand?

+4
Answers (1)
  1. 18 November, 05:03
    0
    Law of demand: At higher prices, a lower quantity will be demanded than at lower prices, other things being equal. Alternatively, at lower prices, a higher quantity will be demanded, other things being equal. The major nonprice determinants of demand are: (1) income, (2) tastes and preferences, (3) the price of related goods.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What 3 concepts explain the law of demand? ...” in 📗 History if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Who wrote inspiring novels abour success in america
Answers (1)
Which answer best explains how the Articles of Confederation addressed the question of creating a court system?
Answers (1)
Why was George Washington a good president
Answers (1)
During the late 1700s, how did widespread land ownership affect the American people?
Answers (1)
A. What is a traditional economy? What is a current example of a traditional economy?
Answers (1)
New Questions in History
Why hasn't the cowherd found another job A) he hopes Odysseus will return someday B) he enjoys cavorting with the suitors C) he is too old to do anything else D) no other king would take him
Answers (1)
What became the new edge of a territory after it was settled
Answers (1)
This area of colonies is where most newcomers to the colonies first arrived?
Answers (2)
The a0 Doctrine stated that European nations should not interfere with or acquire more territory in the Western Hemisphere.
Answers (1)
Under Leonid Brezhnev's leadership, Soviet citizens
Answers (1)
Home » History » What 3 concepts explain the law of demand?
Sign Up Forgot Password?