law of demand in hindi

above video is based upon the concept of the demand, it also elaborate the law of demand and the assumption of law of demand.
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1. DEMAND :- Demand is an economic principle that describes a consumer's desire and willingness to pay a price for a specific good or service. Holding all other factors constant, an increase in the price of a good or service will decrease demand, and vice versa.

2. LAW OF DEMAND :- The law of demand states that other factors being constant , price and quantity demand of any good and service are inversely related to each other. When the price of a product increases, the demand for the same product will fall.
OR
In the simple words it is the inverse relationship between the price and demand.

3. Assumptions under which law of demand is valid :-
(a) No change in price of related commodities.
(b) No change in income of the consumer.
(c) No change in taste and preferences, customs, habit and fashion of the consumer.
(d) No change in size of population.
(f) No expectation regarding future change in price.

4. Limitations/Exceptions of law of demand :-
(a) Inferior goods/ Giffen goods.
(b) Goods having prestige value.
(c) Price expectation .
(d) Fear of shortage.
(e) Change in income.
(f) Change in fashion.
(g) Basic necessities of life.

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for more knowledge watch the above video (law of demand economics)..
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On study extent ....

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