Price Determination In Compt Market (1)

Question 1

Demand in microeconomics

Answer 1

Quantity of goods consumers are willing to buy at a given time period

Question 2

What does the law of demand state

Answer 2

As prices of goods and services fall, the quantity of that good or service rises, ceteris paribus

Question 3

Ceteris paribus

Answer 3

All other things being equal