Law of demand

A demand curve, shown in red and shifting to the right, demonstrating the inverse relationship between price and quantity demanded (the curve slopes downwards from left to right; higher prices reduce the quantity demanded).

In economics, the law of demand states that, all else being equal, as the price of a product increases (↑), quantity demanded falls (↓); likewise, as the price of a product decreases (↓), quantity demanded increases (↑). In simple terms, the law of demand describes an inverse relationship, and an elasticity, between price and quantity of demand. There is a negative relationship between the quantity demanded of a good and its price. The factors held constant in this relationship are the prices of other goods and the consumer's income. There are, however, some possible exceptions to the law of demand (see Giffen goods and Veblen goods).

单词	Demand Theory
释义	Demand Theory 英语百科 Law of demand In economics, the law of demand states that, all else being equal, as the price of a product increases (↑), quantity demanded falls (↓); likewise, as the price of a product decreases (↓), quantity demanded increases (↑). In simple terms, the law of demand describes an inverse relationship, and an elasticity, between price and quantity of demand. There is a negative relationship between the quantity demanded of a good and its price. The factors held constant in this relationship are the prices of other goods and the consumer's income. There are, however, some possible exceptions to the law of demand (see Giffen goods and Veblen goods).
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Demand Theory

Law of demand