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hi everybody demand in economics is defined like this demand is the quantity of a good or service consumers are willing and able to buy at a given price in a given time period that definition is very important learning word for word demand has to be effective in economics for it to exist by effective consumers have to be both willing and able to buy something for there to be demand in economics the man has to be effective we call it consumers of willing and able now when we study demand in economics there is a very interesting pattern or behavior when consumers spend their money and that is known as the law of demand this pattern and the law demands simply states that there is an inverse relationship between price and quantity demanded what does that mean it means that as the price increases quantity demanded decreases whereas if the price decreases quantity demanded increases there is an inverse relationship between price and quantity demanded when price goes one way quantity demand
