Definition: A common definition of law of demand is given in the article The Economics of Demand:
"The law of demand states that, ceteribus paribus (latin for 'assuming all else is held constant'), the quantity demanded for a good rises as the price falls. In other words, the quantity demanded and price are inversely related."
Terms related to Law of Demand:
- Price Elasticity of Demand
- Cost-Push Inflation vs. Demand-Pull Inflation
- Would Marijuana Legalization Increase the Demand for Marijuana?
Journal Articles on Law of Demand: