Respuesta :
Answer:the higher the price of a good, the less people will demand that good.
Explanation:
The Law of Demand states that other things being equal, the quantity demanded of a commodity increases when its price falls and decreases when its price rises.
What is the Law of Demand?
The Law of Demand states that other factors remain constant, price and quantity demand of any goods and services are inversely related to each other.
When the price of a product increases, the demand for the same product will fall. Thus law of demand results into:
- Constant prices of related goods
- Constant income of consumer
- Constant taste and preference of consumer
Law of demand explains consumer choice or behavior when the price changes. In the market, assuming other factors affecting demand being constant, when the price of a good rises, it leads to a fall in the demand of that good. This is the natural consumer choice behavior. This happens because a consumer hesitates to spend more for the good with the fear of going out of cash
The law of demand is a fundamental principle of economics stating that demand of a good will be lower at higher prices of goods.
Demand can be derived from the law of diminishing marginal utility, the fact that consumers satisfy their most urgent needs first by using economic goods
A market demand curve expresses the sum of quantity demanded at each price across all consumers in the market.
Changes in price can be reflected in movement along a demand curve, but do not by themselves increase or decrease demand.
The shape and magnitude of demand shifts in response to changes in consumer preferences, incomes, or related economic goods, not to changes in price
The Law of Demand simply explains that if more people wants to buy a particular product, limited in supply, the price of that product will be bid higher. Likewise, the higher the price of a product, the lower the quantity that will be purchased by consumers.
Together with the Law of Supply, the Law of Demand helps us in understanding why things are priced at the level that they are, and to identify opportunities to buy what are perceived to be underpriced (or sell overpriced) products, assets, or securities
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