Demand

‹ Supply and Demand
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Demand is the quantity of a good or service that consumers are willing and able to purchase at different prices during a given period.

The Law of Demand states that, all other things equal, as the price of a good or service decreases, the quantity demanded increases. This makes sense: as something gets cheaper, consumers are willing and able to buy more of it. This is represented with the downward-sloping demand curve, which shows the inverse relationship between price and quantity.

 

The Demand Curve shows the Price on the vertical axis and the Quantity on the horizontal axis.

Source: Wikipedia

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