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16 July, 10:38

What does a downward-sloping demand curve mean about how buyers in a market will react to a higher price?

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  1. 16 July, 13:04
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    people will buy less of the good.

    Explanation:

    Law of demand states that there is an inverse or negative relationship between the price of the goods and the quantity demanded for a good by the consumers.

    Other factors remains the same, as the price of the goods increases then as a result the quantity demanded for that good decreases and on the other hand, as the price of the goods decreases then as a result the quantity demanded for a good increases.

    A market with a higher prices are generally have a lower quantity demanded for the good because the price is not affordable.
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