Question : The Law of Demand is calculated from the perspective of :
Option 1: Consumer
Option 2: Supplier
Option 3: Wholeseller
Option 4: Shopkeeper
Answer (1)
24th Jan, 2024
Correct Answer: Consumer
Solution :
The Law of Demand is calculated from the perspective of consumer.
The law of demand is a fundamental economic principle that states that at a higher price, consumers will demand a smaller quantity of a good.
Hence a is the correct answer.
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