The claim that, ceteris paribus, the quantity of a good decreases when the price of that good increases is true.
The term ceteris paribus means when all the other things remain the same. So when all the other factors are related to the good, if the price of that good goes up then the demand will fall. The statement is true even if it is written vice-versa. When the price of the good falls the demand for that good will increase.
This statement is given by the law of demand. According to the law of demand, there exists an inverse relationship between the prices of the good and its quantity demand. There are also some exceptions to this rule which include goods like necessities. In these cases even if the price falls the demand will remain the same and vice-versa.
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