In economics, demand is an economic principle referring to a consumer’s desire to purchase goods and services and willingness to pay a price for a specific good or service during a given period of time. In economics, the law of demand states that the quantity demanded and the price of a good or service is inversely related, other things remaining constant. Therefore, the demand curve will generally be downward sloping, indicating the negative relationship between the price of a good or service and the quantity demanded.

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