Law of Demand

Law of Demand Every consumer pays the price of any commodity on the basis of its utility, and for any commodity, he will not pay more price/money than its utility, and utility will decrease with the increase in consumption, so any person can consume or demand any commodity only when its value falls. Thus we …

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Law of supply

Law of Supply – The supply of goods in the market is done by the producer or seller. Supply refers to the quantity of a commodity to be supplied by the producer (seller) of the commodity at different prices. Any supplier will supply an item in excess at a higher price or will supply less …

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