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Accountancy _ E-Books - Vol 1.pdf
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Accountnacy E- Book Class 12th
📌 Commerce vs Real Life: Law of Demand
🧠 Textbook Concept: Law of Demand
The Law of Demand states that, "other things being equal, when the price of a good falls, its demand rises and when the price rises, its demand falls."
In simple words — we buy more when things are cheaper, and less when they’re costly.
🛍️ Real-Life Application: Shopping for Clothes
Let’s say you're at your favorite fashion store or browsing an online shopping app like Myntra or Amazon.
👕 You see a t-shirt priced at ₹1,200 – you like it, but you decide to skip it.
A week later, there's a SALE, and the same t-shirt is now ₹700.
👉 What do you do?
You buy it immediately!
Maybe you even buy two colors instead of one!
✅ This is a perfect example of the Law of Demand:
- Price ↓ = Demand ↑
- Because the t-shirt became more affordable, your quantity demanded increased.
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🧠 Textbook Concept: Law of Demand
The Law of Demand states that, "other things being equal, when the price of a good falls, its demand rises and when the price rises, its demand falls."
In simple words — we buy more when things are cheaper, and less when they’re costly.
🛍️ Real-Life Application: Shopping for Clothes
Let’s say you're at your favorite fashion store or browsing an online shopping app like Myntra or Amazon.
👕 You see a t-shirt priced at ₹1,200 – you like it, but you decide to skip it.
A week later, there's a SALE, and the same t-shirt is now ₹700.
👉 What do you do?
You buy it immediately!
Maybe you even buy two colors instead of one!
✅ This is a perfect example of the Law of Demand:
- Price ↓ = Demand ↑
- Because the t-shirt became more affordable, your quantity demanded increased.
🔗Join us for daily updates
Join our discussion group
🎯 Why This Matters?
Understanding such examples helps you:
- Connect boring theory to daily life
- Retain concepts longer
- Score better in application-based questions in exams
🔗Join us for daily updates
Join our discussion group
Understanding such examples helps you:
- Connect boring theory to daily life
- Retain concepts longer
- Score better in application-based questions in exams
🔗Join us for daily updates
Join our discussion group
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