Answer
As prices change because of a change in supply for a commodity, buyers will change the quantity they demand of that item. If the price drops, a larger quantity will be demanded. If the price rises, a lesser quantity will be demanded. The demand curve slopes downward because, as observation and common sense tell us, people buy more of a product when the price is lower. Prices are an obstacle to buying, so the lower the price, the lower the obstacle, and the more people will buy.
Work Step by Step
Conceptual Question, no work necessary.
