The law of downward-sloping demand states that there is an inverse relation between price and quantity demanded.

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The law of downward-sloping demand is a fundamental law in economics that states that the higher the price of a good, the lower the quantity demanded, ceteris paribus. This means that as the price of a good increases, consumers tend to purchase less of it, while at lower prices, they tend to buy more of it. This inverse relationship is shown by a downward-sloping demand curve on a graph, hence the name.

The Law of Downward-Sloping Demand States That There Is an Inverse