1. (popular definition) The law that, other things being equal, consumers will buy more of a product at a low price than at a high price. 2. (economic definition) The law that, under the same conditions of demand, the amount of product taken by a market varies inversely with its price.

The inverse relationship between demand price and the quantity demanded, ceteris paribus. This fundamental economic principle indicates that as the price of a commodity decreases, then the quantity of [..]

The observation that when price rises, quantity demanded falls. This is not necessary in theory, but it is very rarely violated in practice, including in demands for imports and exports, as well as de [..]

Definition The law of demand states that if supply is held constant, an increase in demand leads to an increased market price, while a decrease in demand leads to a decreased market price.

As the price of a good or service rises (or falls), the quantity of that good or service that people are willing and able to buy during a certain period of time falls (or rises).

As the price of a good or service rises, the quantity demanded of that good or service falls. Likewise, as the price of a good or service falls, the quantity demanded of that good or service rises.

The inverse relationship between price and quantity of a good or service demanded.

We formulate several laws of individual and market demand and describe their relationship to neoclassical demand theory. The laws have ...

Demand exhibits a direct relationship to price. If all other factors remain constant, an increase in demand leads to an increased price, while a decrease in demand leads to a decreased price.

The inverse relationship between demand price and the quantity demanded, ceteris paribus. This fundamental economic principle indicates that as the price of a commodity decreases, then the quantity of [..]