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In ordinary language the word demand signifies need But in economics demand signifies want backed up by the sufficient funds to spend for the superior. EXPLANATION : In the demand curve, the price tag is shown on the vertical and quantity demand is plotted on the horizontal axies. An power law firm can support assure that a corporation is following strict regulations put down by the government and is ‘up to code’. NOTE : No doubt with the fall in price demand increases but it is not essential that demand may also increases according the similar ratio.

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