Explain the law of demand

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Q1. Explain the law of demand. Give a specific product or service from your own experience as an example. Why do you think demand increases or decreases if there is a change in price?

Q2. Aside from price, choose one among the controllable factors that affect demand and explain in detail how can this affect the demand in the market. Give a specific example.

Q3. Supply curves slope upward which means the higher the price, the higher the quantity supplied. Explain in detail why does quantity increase instead of decrease.

Reference no: EM133149519

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