Fresh features from the #1 AI-enhanced learning platform.Try it free
Fresh features from the #1 AI-enhanced learning platformCrush your year with the magic of personalized studying.Try it free
Question

Why is the term "law" used by economists when describing demand?

Solution

Verified
Answered 2 years ago
Answered 2 years ago
Step 1
1 of 2

Economic laws arise and act on certain behaviors of society and the relationship of people on a day-to-day basis. Since economics is a social science, laws must be established based on previous experience of the things that surround us.

Create an account to view solutions

Create an account to view solutions

Recommended textbook solutions

Understanding Economics 1st Edition by Gary E. Clayton

Understanding Economics

1st EditionISBN: 9780076643448Gary E. Clayton
782 solutions
Principles of Economics 7th Edition by N. Gregory Mankiw

Principles of Economics

7th EditionISBN: 9781285165875N. Gregory Mankiw
1,397 solutions
Principles of Economics 8th Edition by N. Gregory Mankiw

Principles of Economics

8th EditionISBN: 9781305585126N. Gregory Mankiw
1,359 solutions
Cambridge IGCSE Business Studies 4th Edition by Karen Borrington, Peter Stimpson

Cambridge IGCSE Business Studies

4th EditionISBN: 9781444176582Karen Borrington, Peter Stimpson
686 solutions

More related questions

1/4

1/7