AP MicroeconomicsSupply & Demand
Law of Demand
The law of demand states that quantity demanded falls when price rises, holding all else constant.
The law of demand describes the inverse relationship between price and quantity demanded. When the price of a good rises, consumers are willing and able to buy less of it. Conversely, when the price falls, consumers are willing and able to buy more. This holds true as long as other factors like income and preferences remain constant.
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