This law summarizes the effect price changes have on consumer behavior. For example, a consumer will purchase more pizzas if the price of pizza falls. The opposite is true if the price of pizza increases.
Investment dictionary. Academic. 2012.
law of demand — Demand exhibits a direct relationship to price. If all other factors remain constant, an increase in demand leads to an increased price, while a decrease in demand leads to a decreased price. The CENTER ONLINE Futures Glossary … Financial and business terms
demand — de·mand 1 n 1: a formal request or call for something (as payment for a debt) esp. based on a right or made with force a shareholder must first make a demand on the corporation s board of directors to act R. C. Clark a written demand for payment… … Law dictionary
law of demand — a statement in economics: the quantity of an economic good purchased will vary inversely with its price compare inferior good … Useful english dictionary
the law of demand — ► ECONOMICS an economic law that states that people buy less of a product when the price is high, and more when the price is low: »This is the normal law of demand, in which the quantity of corn demanded increases as the price of corn declines.… … Financial and business terms
demand note — see note Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. demand note A note or instrument that is pay … Law dictionary
demand guarantee — International A guarantee that imposes a primary obligation on the issuer to pay the beneficiary on its first demand for payment, where the primary obligor fails to perform the contract. The issuer s obligations are not affected by disputes over… … Law dictionary
demand letter — Correspondence from one party to a dispute to the other, stating the drafting party s version of the facts of the dispute and making a claim for compensation or other action to resolve it. Often drafted by an attorney, a demand letter is… … Law dictionary
demand deposit — see deposit 2a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
demand loan — see loan Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
demand a payment — index assess (tax) Burton s Legal Thesaurus. William C. Burton. 2006 … Law dictionary
