[Solved] Tha Law of Demand is based on -

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Q.	Tha Law of Demand is based on -
A.	Manufacturer's preference
B.	Seller's preference
C.	Supplier's preference
D.	Consumer's preference
Answer» D. Consumer's preference
Explanation: The Law of Demand states that, all else being equal, as the price of a product increases, quantily demanded lowers; likewise, as the price of a product decreases, quantity demanded increases. Demand is derived from consumers’ tastes and preferences, and it is bound by income. In other words, given a limited income, the consumer must decide what goods and services to purchase. Each consumer will purchase different things because individual preferences and incomes differ.

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