When you began your study of economics you were probably introduced to the law of demand at a very early stage. That is, if all other relevant factors are held constant, an increase in the price of a good will lead to a decrease in the quantity demanded.
This, in turn, leads naturally to the idea of a demand curve, i.e. a graph or mathematical function which shows the relationship between price and quantity demanded. These concepts form an important part of the microeconomic theory of markets in which price and quantity move to determine simultaneous equilibrium of both demand and supply.
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