The law of demand states that buyers will purchase more of a product as its price drops and less of a product as its price increases.

Question

Quizplus · Accepted Answer

This is the basic principle of the law of demand, which states that there is an inverse relationship between the price of a good or service and the quantity demanded of that good or service. As the price of a product decreases, consumers are more willing and able to buy more of that product, and vice versa.

The Law of Demand States That Buyers Will Purchase More