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What is demand explain the theory of law of demand in detail? Video Lecture In this video lecture, we are going to learn the Theory of Demand in accordance with Fundamentals of Economics and Management, Paper 1 of CMA Foundation.   Difference between the law of demand and the theory of demand? Theory of Demand is the principle/law that correlates the demand for a product with the price of the product. The Law of Demand is the basis for price determination in an open market. We will also look at the Elasticity of Demand and the concept of Demand Schedule. Theory of Demand, tells the connection between the cost of the merchandise and its amount requested. In the event that the cost of any great or administration expands, at that point its interest diminishes and the other way around. Theory of Demand The relationship between the cost of a product and the amount demanded is described by the Theory of Demand. When the expense of a good or administration rises, so does its appeal, and vice

What is the difference between the law of demand and theory of demand? Don't you want to learn about demand theory in a more straightforward manner? YES is unmistakably the correct response. The demand theory explains how changes in the quantity of a product or service available to customers affect its market price. According to the hypothesis, the greater a product's price, the fewer requests it will receive, and the lower the sloping demand curve will be.   Every one of us has a unique interest in specific products and businesses, and our interest at each price reflects the value we place on each of the objects, which is usually linked to the pleasure or use we anticipate from owning it. The utility is a phrase used by business analysts to describe this. Theory of Demand The relationship between the cost of a product and the amount demanded is described by the Theory of Demand. When the expense of a good or administration rises, so does its appeal, and vice versa. The deeper