Law+of+Demand

Law of Demand

This curve demonstrates what happens when you graph the demand schedual. The law of Demand causes the curve to be sloped downwards.

media type="youtube" key="b8Tx786AVsc" height="344" width="425" Here is part one of a three part series, clearly stating and explaining the law of demand.

Sample question: Which best represents the law of demand? A) as the price of cheese increases, the quantity demanded decreases. B) as the price of cheese increases, the quantity demanded increases. C) as the price of cheese decreases, the quantity demanded decreases D) as the price of cheese decreases, the quantity demanded remains the same.

links: http://en.wikipedia.org/wiki/Law_of_demand#Characteristics http://www.investopedia.com/university/economics/economics3.asp http://ingrimayne.com/econ/DemandSupply/Demand3.html

Answer to sample question: A