16 Views

Question : Law of Demand is a:
(a) Qualitative Statement
(b) Quantitative Statement
 

Option 1: Only A

Option 2: Only B

Option 3: Both A and B 

Option 4: None of the above


Team Careers360 18th Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: Both A and B 


Solution : The law of demand is not a quantitative law; rather, it is a qualitative one. This is due to the fact that it does not explicitly state how closely the amount demanded and the price relate to one another. As a result, we might say that the law of demand is a qualitative assertion.

Related Questions

Amity University, Noida Law A...
Apply
700+ Campus placements at top national and global law firms, corporates and judiciaries
Amity University | LLM Admiss...
Apply
Ranked as India’s #1 Not for profit pvt. University by India Today.
Geeta Institute of Law Admiss...
Apply
18 years of shaping legal professionals | In-house judicial coaching | Proven success in National Moot Court Competitions
Graphic Era (Deemed to be Uni...
Apply
NAAC A+ Grade | Among top 100 universities of India (NIRF 2024) | 40 crore+ scholarships distributed
Sharda University Admissions ...
Apply
North India's Largest Educational Group | NIRF Ranked 86 | NAAC A+ Grade | Highest Package 1.6 Cr | Last date: 31st Aug'25
Sanskaram University LLM Admi...
Apply
100+ Industry collaborations | 10+ Years of legacy
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books