As the price of an item decreases people will demand a larger quantity of that item, ceteris paribus
People purchase more of any particular good or service as its relative price falls; they purchase less as its relative price rises.
relationship between price and purchase decisions (p. 57)
the economic principle that prices rise as the demand increases and prices fall as demand decreases
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 (falls) , the quantity of that good or service that people are willing and able to purchase during a particular period of time falls (rises) , ceteris paribus
An economic principle stating that consumers will purchase less of a good or service at higher prices and more at lower prices.
The principle that buyers will purchase (demand) more of a product as price drops.
The quantity demanded of a good will be greater at a lower price than the quantity demanded of the same good at a higher price.
the tendency for the quantity demanded of a good in a market to decline as its price rises.
The principle that price and quantity demanded are inversely related.
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.
an economic law that states that as price decreases, quantity demanded increases
The law of demand states that there is an inverse relationship between the price of a product and the quantity demanded of that product, ceteris paribus. As the price of a product rises, the quantity demanded of the product falls; as the price of a product falls, the quantity demanded of the product rises.
The price of a good or service is inversely related to the quantity of demanded by customers, other things being equal or constant. Increasing the price of a good or service decreases the quantity demanded. Decreasing the price of a good or service increases the quantity demanded. See Demand schedule.