The Law of Demand Explained: Why Prices Control Our Choices (Microeconomics)
Автор: Brain Hook Concepts
Загружено: 2026-01-30
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The Law of Demand Explained: Why Prices Control Our Choices (Microeconomics)
Why are flight tickets expensive during holidays but cheap weeks later? Why do we rush to buy phones during a sale? The answer lies in one of the most powerful rules of Economics: The Law of Demand.
In this video, we break down exactly what "Demand" means (it’s not just wanting something!), how the Law of Demand works, and the invisible rules that control our spending habits. We also cover the "Fine Print" of economics—Ceteris Paribus—and how to plot demand on a graph.
Whether you are an economics student (Class 11, 12, B.Com, CA) or just curious about how the market works, this simple explanation is for you.
Key Concepts Covered:
Difference between Desire and Demand
Inverse Relationship between Price and Quantity
Demand Schedule vs. Demand Curve
Assumptions of Law of Demand
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