The quantity of a commodity demanded by a consumer is influenced by the price of the commodity.

Name: The quantity of a commodity demanded by a consumer is influenced by the price of the commodity.
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Question

Quizplus · Accepted Answer

The law of demand states that, all else being equal, as the price of a commodity decreases, the quantity demanded by consumers increases, and as the price increases, the quantity demanded decreases.

The Quantity of a Commodity Demanded by a Consumer Is