simonkiddo simonkiddo
  • 12-05-2024
  • Business
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if the price of goods goes down, the quantity of demand for that good does what?

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e3van22
e3van22 e3van22
  • 12-05-2024

If the price of goods goes down, typically the quantity demanded for that good increases. This relationship is described by the law of demand, which states that, all other factors being equal, as the price of a good decreases, the quantity demanded increases, and vice versa. Lower prices often make goods more affordable and attractive to consumers, leading to higher demand.

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