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CC te ae ea Re vaeprresnle +} Sieh ea ee . +. i 4 The alaninsct ‘ had Feonamics?* finloteh 03.4 Pubsligh cel iets The Law exPlaing the funtional velabeashiP= Price acd quiewbs by clermancded th ob the Lai 2 oS i Be. According to Prof. Alfred marr Shal) BOM ex things being equal | higher the Pree Comeodi hy Srnadlen is the qtveiabity denodnded — aedslower the Price of 0 “foromodihy , large 14 the quanb'hy ean creu dad) Ye: ExPldpalinn of the beta i In other Words. Other Lackars ‘ocmatning — 4 Constant, if the price OF the Commodity 5 demanod, Fox i+ fallg and when Pore £, Ges 5 Loe Thus, theve (¢ an inverse ye lahoanShi Price and quake demand ed bes Synsbelieati sit Can be expressed a De = £C Px’) “The law) of dom earl cs folve) roa 16 aa on sire: hu ax -lorite, Dae Constant Level-Ob jocome w= i do find tue oferrce then, Cope — Should xeenatn Constant 5.15 2>| No Change bo Size Of: PoPilaling sone Tt ae a he. Size Of the. | Pop boutd Vochanaecl Any Change Ini size a - Tofu! ‘on adil) ate 3)| Proce of Substhile wc Tore¥s uae ‘a eee Pryce Poses, ol the gushhibe ishoided Any change Tn Price. op wie affect the datmaaed fore the ath “fii aac s “~ - = LQcLy SAAS eIy COTM) aWse 45 vols: us a = QAnods) ane: hot wWsies* fox. Exeenphe } Siv Rohenk » behassoud ofp ing [anim oie 9 poked thal » hens the* prdte— People did nok buy! nooneio “They faveleoy Supenoxr goods tana noes cUThhe hse (niffen forradox vin) heanens@s be att 2\ | Preskhoe quads ! ‘ ma] eke. cane Stakus Symbol, So wich People bry Of, even wher “thei Prices cane eae B31 SPecubah'on * “[hexlcivn 0a) cece hee dre When People exPect Prices to furtthen : : fox Exacsp\e L Pyreg of op] Suq ay NG We ee. Dida puso) Peo 2 Mor af a high Proce as they a | Paces racy Ss dining Drude). J Price iMusion : shont gor! 34 : By a " = * mn ; Hae A Prices. dt Hoab Compaen diby roe 6S ’ Habihrocel Spolod.citac *syeu) boone 5 & Due to habit of Consus Certain goods like tea is Purchased qutankties even ab a highen Price le fox Example + “Tehacce | Cigarrel-le dons Im Demeod :- Meaning =- When the ceman Fallitiorw weeded tostinbm eel § cre Other: factaics Cars. Noésrimthion sail osderna moot bene 9. . pBcDieaie Obid dud HePes anodes Sin? alt pug z tenes Oat ee Te, Jobe 4AinW er . itn 9) SEM sth T zt 45 Lal scx ' D | ai dothdéngeadinadrmadd ater sdb oi vidaais x ro ua Ke reciin Ce (Lr. ~ IK p of uithommos 9 te babanensh yislosp = z B_ Yau: mar€!'a) amig eSo tot f) monde e19 — Bm og Se in — | aceease io Decxea as Demand —_ ——_> = ss | _t Meaning -- It ve ferg to inex Meaning ten St ine cS zease jn quanhry demanded clecrease In Quanhby an ched pe Fos = aka ‘ melole cages — 2 S) bo Obhex falckors! |wces bol Slee changes im other base, CHrealic Coadihont the Feec bore ies taste, tne P . and Pxice Yenoans Constank. «he, and Price xem aos fon A. ck DA = 3 » , Trcxease tn clemmand Cunve :- Decrease tn demand Cun > 5 RA VT Aw on 3 | A o Sk Q ‘b & : NX » aes a F Ss Desens? 565 ae ply ) Se a i ee En | we << tet Ne, ‘i Lie ey 19 re) (9) 5 4 tbe oat x ta. 6 ‘ n A ‘ — OTTO TTA ay Quay cernendcet | wae wisi onl ms ee ; A Cuno b Demdande ¢inate, vse Shifks to the wight foe MD to DD, tohich todicol —— 
