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1 pages/≈275 words
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APA
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Mathematics & Economics
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Essay
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English (U.S.)
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Topic:
The Law of Demand
Essay Instructions:
citing those views with which you agree or disagree as well as your reasons for agreeing or disagreeing.
OPTION 1: Price of a commodity is argued to be the most important factor that determines whether consumer buys more or less of a commodity. From personal experience, what are the other factors that affect your condition and decision to buy more or less of a product?
OPTION 2: The law of demand says “other things equal, the lower the price, the higher the quantity demand.” Does this statement apply to everyone? Explain your answer.
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Option 2: Law of Demand
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Option 2: Law of Demand
1224280334645000I disagree with the statement as per the law of demand that other things equal, the lower the price, the higher the quantity of demand since the insights from my experience and some emerging theories indicate exceptional cases to be noticed. Consumer behavior is taking considerable twists in the contemporary era of awakening, and a key highlight is an ethical orientation. Certain segments of consumers are increasingly conscious of their choices' environmental and social implications (Kosnik, 2018). Even though the price tag has its importance, growing trends of social consumption press the brands to take into account their measures aimed at corporate social responsibility. The concept of triple bottom-line, as visualized below, is getting increasingly embedded in the market campaigns of some of the most reputable brands in the world:
(Researchgate, 2018)
For instance, Coca-Cola appeals to ethically-orie...
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