Discussion: Law of Demand

The Law of Demand states that the demand for a product is inversely  related to the price of such product. Therefore, the demand for a  product is considered downward sloping. This implies that quantity  demanded increases when price decreases. Is this always true?

In your answer, provide at least three examples of products for which  quantity demanded remains unchanged regardless of a change in price.  Also, provide at least three examples of products for which quantity  demanded increases in response to an increase in price.  Also, include a discussion of the factors of demand that may account  for such examples and justify your conclusions.

By the due date assigned, post your initial discussion response in the Discussion Area. Through the end of the module, read all of the other students’ postings, and post comments in the Discussion Area on at least two other responses.