What does the law of demand state?

The law of demand states that, all else being equal, an increase in the quantity demanded will cause the price to decrease. In other words, when consumers want to buy more of a good or service, sellers will often reduce the price to encourage more purchases. Conversely, if the price of a good increases, the quantity demanded tends to decrease as consumers look for alternatives or decide they cannot afford the item. This relationship between price and quantity demanded is fundamental in economics and illustrates how consumer behaviors influence market prices.