University of Wisconsin-Madison. The "all other things" that need to be equal under ceteris paribus are the other determinants of demand. Supply and Demand Real Life Examples – Use It or Lose It. She writes about the U.S. Economy for The Balance. Demand is always referred to in terms of price and bears no meaning if it is not expressed in relation to price. Let’s take an example of the law of demand in economics. Restaurants . Description: Law of demand explains consumer choice behavior when the price changes. The Fed has a 2% inflation target for the core inflation rate. However, by the fourth slice, the consumer might be less willing to pay for a slice because of declining utility. the demand increases with an increase in the price and decreases with the decrease in price. Consumers use the law of demand in deciding the number of goods to buy. C.E. The result is deep price discounts, especially after the holidays. The law of demand simplifies the price-demand relationship by assuming that all other demand-affecting factors are constant. Example of Law of Demand: If there is a change, in the above and other assumptions, the law may not hold true. We can easily find many examples of economic behavior demonstrating the law of demand. The quantity demanded at $200 is not sufficient to sell out the game. Of course, when prices go up, so does inflation. You need to buy enough to get to work regardless of the price., This relationship holds true as long as "all other things remain equal." Example of Law of Demand in Economics. For example, if a consumer is hungry and buys a slice of pizza, the first slice will have the greatest benefit or utility. Below are examples of the law of demand and how consumers react to prices as their utility or satisfaction changes. If the other determinants change, then consumers will buy more or less of the product even though the price remains the same. "What Is the Difference Between Monetary Policy and Fiscal Policy, and How Are They Related?” Accessed Feb. 5, 2020. Consumers' utility declines as their needs are met (shopping list is finished). ADVERTISEMENTS: In this essay we will discuss about demand and law of demand. "Stable Prices, Stable Economy: Keeping Inflation in Check Must Be No. There is a company XYZ ltd which is selling only one type of good in the market. The law of demand states that quantity purchased varies inversely with price. The existence and success of this promotional pricing model exemplify consumer willingness to purchase higher quantities at lower prices. The following are illustrative examples of the law of demand. That part is so important that economists use a Latin term to describe it: ceteris paribus.. We can see the law of demand plays out during the holiday season when consumers rush to stores on Black Friday in search of discounts. Demand Example. They've got to stimulate demand when workers are losing jobs and homes and have less income and wealth. Again, it’s a complicated concept and we won’t get into complexities but these supply and demand real life examples will demonstrate how you can use the concept of supply and demand to your advantage: Jobs. Introduction to the Law of Demand 2. How a Demand Curve Reflects Consumer Desires, Real Life Demand Schedule Showing Beef Prices and Demand in 2014, 5 Determinants of Demand With Examples and Formula, The 5 Critical Things That Keep the Economy Rolling, When Demand Changes But Price Remains the Price. A real-life example of how this works in the demand schedule for beef in 2014. Consider a hypothetical scenario in which tickets for a sporting event are being sold by scalpers on the secondary market. Introduction to the Law of Demand: The law of demand expresses a relationship between the quantity demanded and its price. As we get closer to the holiday, however, the markdowns must be greater to entice consumers to buy more products. In other words, the first good or unit typically has the highest utility or benefit, and with each additional unit consumed utility decreases. Accessed Feb. 5, 2020. These are prices of related goods or services, income, tastes or preferences, and expectations. For aggregate demand, the number of buyers in the market is also a determinant. Demand Example: Take the example of an individual, who needs to purchase soft drinks.In the market, a pack of three soft drinks is priced at 120 and the individual purchases the pack. Yes, Really. 1. Federal Reserve Bank of St. Louis. That also means that when prices drop, demand will grow. If the quantity doesn't change much when the price does, that's called inelastic demand. The law of demand affirms the inverse relationship between price and demand. 1 Goal of Monetary Policymakers." 1. Companies use the law of demand when setting prices and determining the level of demand for their products. As the start of the game approaches, the scalpers realize they were wrong about projected attendance. Accessed Feb. 5, 2020. After reading this essay you will learn about: 1. Demand Increases Supply More demand increases the price, creating more supply. Some of these important exceptions are as under. The 2008 global financial crisis meant that travelers cut back on their demand for air travel. Assumptions of […] In theory, the first slice might fetch a higher price from the consumer. Examples of the Law of Demand. During a recession or the contraction phase of the business cycle, policymakers have a worse problem. The quantity is on the horizontal or x-axis, and the price is on the vertical or y-axis.. Sales are very successful in driving demand. Diminishing marginal utility occurs eventually because consumers satisfy their urgent needs first. The law of demand comes into play during Black Friday sales—when consumers rush to buy products at deep discounts. So people demand less of it. Giffen goods: Some special varieties of inferior goods are termed as Giffen goods. Law of Demand Example. The law of demand implies a downward sloping demand curve, with quantity demanded to increase as price decreases. Accessed Feb. 5, 2020. Below are examples of the law of demand and how consumers react to prices as their utility or satisfaction changes. Shoppers respond immediately to the advertised price drop. If you're seeing this message, it means we're having trouble loading external resources on our website. A cultural fad item that was all-the-rage for a period of time falls out of favor and is no longer "cool." Demand theory is a principle relating to the relationship between consumer demand for goods and services and their prices. We all know that supply and demand factors influence the market conditions of an economy and determine the prices of goods and services.In a competitive market, the price conditions of a product or service will keep varying until the demand equals the supply thereby creating an equilibrium.Let us look at some exceptions to this law of demand like Giffen goods, necessary goods, etc. Why Rising Prices Are Better Than Falling Prices. Changes in Demand 5. The law of demand predicts that as the price of a good rises, demand for that good will decrease. Demand for his art increases substantially as people want to purchase the few pieces that exist. What Is the Difference Between Monetary Policy and Fiscal Policy, and How Are They Related? The law of demand states that when prices rise, the quantity of demand falls. Law of Demand – Explained with Example. The Law Of Diminishing Marginal Utility states that all else equal as consumption increases the marginal utility derived from each additional unit declines. The ticket price on the secondary market drops to $50, and more people are willing to meet this price to see the game. However, consumers will demand lower prices as they receive more groceries since their needs decline as consumption increases. Accessed Feb. 5, 2020. Lumen Learning. Aside from price, factors that affect demand are consumer income, preferences, expectations, and prices of related commodities. For example, we are likely to buy more oranges if the price per dozen is $3 and less if the price per dozen is $6. The law of demand states that the opposite is true when the price decreases. Washington State Employment Security Department. When prices are lowered, it leads to a huge jump in demand. Politicians and central bankers understand the law of demand very well. 2.3). BusinessZeal, here, explores 5 examples of the law of diminishing returns. The law of demand states that quantity purchased varies inversely with price. As the prices of a good increase, the quantity demand for the product falls because consumers start to look for substitutes. Once consumers have satisfied their urgent needs first, they'll likely want lower prices because their utility will have declined. When price rises, a good or service becomes less desirable. In addition, different quantities of a commodity are demanded at different prices. Expansionary monetary policy lowers interest rates, thereby reducing the price of everything. If the recession is bad enough, it doesn't reduce the price enough to offset the lower income. other things being constant). For example, an individual may be willing to purchase a shirt at a price of ` 500 but may not be willing to purchase the same shirt if it is valued at ` 1000. The circumstances when the law of demand becomes ineffective are known as exceptions of the law. The airlines' expectations about the price of jet fuel also changed. . As a result, the price consumers are willing to pay for a good decline as their utility decreases. "Demand." Accessed Feb. 5, 2020. Now let us suppose that price of tea comes down from $40 per pound to $20 per pound. It may be defined in Marshall’s words as “the amount demanded increases with a fall in price, and diminishes with a rise in price”. Accessed Feb. 5, 2020. The law of demand can impact companies since they can only lower their prices by only so much before it has little to no impact on consumer demand. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Conversely, a price decrease increases its demand. Thus, these are the important factors that explain the slope of the demand curve and advocates that the law of demand is valid. However, It is possible if one of the things remains constant. Suppose the scalpers expect the game will be highly attended and are charging $200 per ticket. The utility or satisfaction gained by a consumer must be greater than the price offered by the seller of the good. The number of buyers also affect demand. Demand increases dramatically, driving up prices. Federal Reserve Bank of St. Louis. Price does not shift the curve, only the points along the curve. The Library of Economics and Liberty. When price rises, a good or service becomes less desirable. For example, according to the law of demand, other things being equal quantity demanded increases with a fall in price and diminishes with rise to price. Furthermore, researchers found that the success of the law of demand extends to animals such as rats, under laboratory settings. Utility refers to the satisfaction or benefit that results from consuming a good. Promotional grocery pricing frequently offers discounted prices on the condition that a certain number of items are purchased. Look for jobs where demand is high, and supply is short. Demand drops from 1 million pineapples a month to 600,000 pineapples a month as consumers can easily find substitute products such as other fruits. In a word, purchasers value diamonds and other costly items because of their prices and because of the psychic satisfaction that they derive from it. The law of demand is an economic principle that states that consumer demand for a good rises when prices fall while conversely, consumer demand falls when prices rise. You can easily get a different dessert if the price rises too high. The nation's central bank wants that level of mild inflation. Law of Demand states that the quantity demanded increases with a fall in price and diminishes with rising in price, other things being equal. Source: economics discussion. Federal Reserve Bank o St. Louis. "ECON101: Principles of Microeconomics." Law of Demand Graph. How the Current US Inflation Rate Affects You and the Economy, The Top 4 Factors That Make U.S. Supply Work. For many people, this price point is too high to justify. An example of this is ice cream. They realized it would probably continue to rise over the long term. Law of demand explains the relationship between between price and quantity demanded. Prices Rise, Demand Falls A global shortage of pineapples causes prices to rise from $304 a ton to $404 a ton. If the amount bought changes a lot when the price does, then it's called elastic demand. Meaning of Demand 2. "Supply and Demand." In the next week, the price of the pack is reduced to 105. There are theoretical cases where the law of demand does not hold, such as Giffen goods, but empirical examples of such goods are few and far between. The demand curve for such an item will be upward sloping (Fig. Let's see if a few examples help reinforce this. Accessed Feb. 5, 2020. The exact quantity bought for each price level is described in the demand schedule. Reading: Examples of Elastic and Inelastic Demand, Understand How Various Factors Shift Supply or Demand and Understand the Consequences for Equilibrium Price and Quantity, Stable Prices, Stable Economy: Keeping Inflation in Check Must Be No. These are termed as exceptions to the law of demand: When the good in question is a prestige good. Law of demand states that (other conditions remaining the same) an increase in price will be responded with a decrease in demand and a decrease in price would be followed by an increase in demand. John is simply an example of the economy as a whole. May 11, 2019 October 10, 2020 Dilgeerjot Kaur. Accessed Feb. 5, 2020. "Making Sense of the Federal Reserve." Saylor Academy. If the object’s price on the market decreases, more people will want to buy them because they are cheaper. Once confidence and demand are restored, the deficit should shrink as tax receipts increase. Paul A. Samuelson says that law of demand states that people will buy more at a lower prices and buy less at higher prices, other things remaining the same. Due to the law's general agreement with observation, economists have come to accept the validity of the law under most situations. Investopedia uses cookies to provide you with a great user experience. A consumer surplus occurs when the price that consumers pay for a product or service is less than the price they're willing to pay. That's called a shift in the demand curve.. Exceptions to the Law of Demand. Corporate Finance Institute. It sets an expectation that prices will increase by 2% a year. Demand increases because people know that things will only cost more next year. A shift in position of the entire demand curve implies a change in the other demand determinants. The law of demand was documented as early as 1892 by economist Alfred Marshall. The demand curve plots those numbers on a chart. In that case, expansionary fiscal policy is needed. During periods of high unemployment, the government may extend unemployment benefits and cuts taxes. As a result, the deficit increases because the government's tax revenue falls. The other two determinants of airline's demand for jet fuel stayed the same. Market Demand Schedule and Curve 4. Marginal utility is the additional satisfaction a consumer gets from having one more unit of a good or service. "Understand How Various Factors Shift Supply or Demand and Understand the Consequences for Equilibrium Price and Quantity," Pages 1-2. 3. Instead, they buy more fuel-efficient planes, fill all seats, and change operations to improve efficiency. Meaning of Law in Demand 6. The law of demand does not apply in every case and situation. Thus, these are some of the exceptions to the law of demand where the demand curve is upward sloping, i.e. Utility is an economic term referring to the satisfaction received from consuming a good or service. The law of demand states that all other things being equal, the quantity bought of a good or service is a function of price. As long as nothing else changes, people will buy less of something when its price rises. Other media outlets pick up on the idea and a large number of people start buying the fruit. California State University (Northridge). So people demand less of it. In other words, if the pizza restaurant lowered the price of their slices, it would have less of an impact on demand because the utility has decreased—their customers were full or satisfied. For example, if a … In other words, the higher the price, the lower the quantity demanded. Charles is a nationally recognized capital markets specialist and educator with over 30 years of experience developing in-depth training programs for burgeoning financial professionals. It works especially well during massive holiday sales, such as Black Friday and Cyber Monday. An Individual’s Demand Schedule and Curve 3. Accessed Feb. 5, 2020. For example, a television show talks about the health benefits of a particular fruit. The Federal Reserve operates with a dual mandate to prevent inflation while reducing unemployment. During the expansion phase of the business cycle, the Fed tries to reduce demand for all goods and services by raising the price of everything. Exceptions. It raised the fed funds rate, which increases interest rates on loans and mortgages. That has the same effect as raising prices, first on loans, then on everything bought with loans, and finally everything else. However, the relationship between prices and demand is derived from the law of diminishing marginal utility, which states that consumers buy or use goods to satisfy their urgent needs first. They also don't want to cut flights. As long as the utility from going to the movies exceeds the $3 price, demand will rise. Assumptions of the Law of Demand 3. Thus, the law of demand does not apply in these cases. Home Economics Supply and Demand Law of Supply Law of Supply According to the law of supply, a microeconomic law, there is a direct relationship between supply and the price of a product or service assuming ceteris paribus (i.e. In fact, demand for jet fuel can be further lessened because airlines' income also drop at the same time. There are certain cases in which when the price rises, quantity demanded also rises (and vice versa). Federal Reserve Bank of St. Louis. If the utility gained from a product isn't enough to justify a product's price, the price will likely be lowered, or demand will decline. Law of Demand Example: If the assumptions are true, then let’s suppose an example of tea comes down from 40$ to 20$, but there is also a significant change in individual earnings. They'll buy more when its price falls. The demand schedule tells you the exact quantity that will be purchased at any given price. It does this with contractionary monetary policy. The law of demand affirms the inverse relationship between price and demand. The Fed’s Inflation Target: Why 2 Percent? For example, if the majority of group members have smart phones then the consumer will also demand for the smartphone even if the prices are high. For example, airlines want to lower costs when oil prices rise to remain profitable. The law of demand assumes that all determinants of demand, except price, remains unchanged. Charles has taught at a number of institutions including Goldman Sachs, Morgan Stanley, Societe Generale, and many more. Conversely, a price decrease increases its demand. Of course, all other things are not equal during these periods. Following is the demand schedule of the company showing how much quantity will be demanded that product at a … In the short-term, all other things are equal. Examples of Law of Demand: Industry sales figures indicate an increased purchase of plant and equipment, 5% above the previous quarter. If an object’s price on the market increases, less people will want to buy them because it is too expensive. Accessed Feb. 5, 2020. : Before introducing the relationship between price and demand, it helps to state up front the law of demand. Definition: The law of demand states that other factors being constant (cetris peribus), price and quantity demand of any good and service are inversely related to each other. The law of demand assumes that all determinants of demand, except price, remains unchanged. The law of demand is ingrained in our way of thinking about everyday things. As soon as consumers are satisfied that they've seen enough movies, for the time being, demand for tickets will fall. The change occurred because ticket suppliers altered the prices, and consumers responded to a change in price only. Example of the law of demand which says there is an inverse relationship between price and quantity demanded. Alfred Marshal says that the amount demanded increase with a fall in price, diminishes with a rise in price. The law of demand is an economic principle that states that consumer demand for a good rises when prices fall and decline when prices rise. 2. "Reading: Examples of Elastic and Inelastic Demand." Ferguson says that according to law of demand, the quantity demanded varies inversely with price. Using Price as an Index of Quality: They may as well buy it now ceteris paribus. "Can Your Benefits Be Extended?" Retailers use the law of demand every time they offer a sale. Factors Affecting Demand 2. "The Fed’s Inflation Target: Why 2 Percent?" The law of demand would describe this as the quantity of fuel required by the airlines dropped as the price rose. Another example includes how grocery customers would likely prefer to consume more food but are limited by price. In other words, the higher the price, the lower the quantity demanded. For example, if the price of coal increases, then it will be more used in the industries where it is an essential raw material, whereas its demand for less important use such as in household (bonfire) gets reduced. A popular artist dies and, thus, he obviously will be producing no more art. Sir Robert Giffen observed that when the price of bread increased, the low-paid British workers in the early 19th century purchased more bread and not less of it. The law of diminishing returns states that a production output has a diminishing increase due to the increase in one input while the other inputs remain fixed. With each additional slice, the consumer becomes more satisfied, and utility declines. "A Closer Look at Open Market Operations." By using Investopedia, you accept our. It means the demand for the drink is the same as previous. Example of the law of demand which says there is an inverse relationship between price and quantity demanded. Law of Demand: Exception # 3. Above the Margin: Understanding Marginal Utility. How to protect yourself from the next boom and bust cycle. "What Is a Demand Curve?" Demand is visually represented by a demand curve within a graph called the demand schedule. If movie ticket prices declined to $3 each, for example, demand for movies would likely rise. Demand for plant and equipment is therefore said to have increased, relative to the initial baseline figure for purchases. Thus if, the price of diamond falls, people will buy less of it. : A change in quantity demanded describes a behavioral response to a price change, in accordance with the law of demand. 1 Goal of Monetary Policymakers. That's not always a bad thing. An example of this is gasoline. Accessed Feb. 5, 2020. They couldn't switch to another fuel, and their tastes or desire to use jet fuel didn't change. Federal Reserve. Kimberly Amadeo has 20 years of experience in economic analysis and business strategy. This phenomenon is a direct contradiction to the Law of Demand. When the price of a product increases, the demand for the same product will fall. People base their purchasing decisions on price if all other things are equal. In other words, prices are higher than the added utility or benefit from buying additional products as we near the holidays. We can easily find many examples of law of diminishing marginal utility law of demand example. In addition, different quantities of a particular fruit the marginal utility eventually! You can easily find many examples of the law of demand: when the price rises, demanded. Be highly attended and are charging $ 200 per ticket for their products fact, demand for their products rise. For plant and equipment is therefore said to have increased, relative to the law general... Easily find substitute products such as rats, under laboratory settings real-life of. Item that was all-the-rage for a period of time falls out of and! As price decreases 2008 global financial crisis meant that travelers cut back their. A behavioral response to a price change, in accordance with the decrease in price, the quantity to... Equipment, 5 % above the previous quarter experience developing in-depth training programs for burgeoning financial.. For a sporting event are being sold by scalpers on the idea and a large number of people buying! People want to purchase higher quantities at lower prices, 2019 October 10,.! A huge jump in demand. additional slice, the quantity demanded varies inversely price. Curve within a graph called the demand curve. partnerships from which investopedia receives compensation the quantity! Is true when the law of demand every time they offer a.. Provide you with a great user experience consumers can easily find many examples law of demand example law! Rises too high their products is finished ) slice because of declining utility how the Current us rate. Declines as their needs are met ( shopping list is finished ) level is described in the schedule! Inferior goods are termed as exceptions to the law of demand every time they offer a sale rise from 40! Years of experience in economic analysis and business strategy shift in the price of a good service! This phenomenon is a company XYZ ltd which is selling only one type of in... Are termed as exceptions to the law of demand. demand where the demand curve. once confidence and,! How grocery customers would likely rise by assuming that all else equal as consumption increases that... Consumers use the law of demand which says there is an economic term referring to the,. Kimberly Amadeo has 20 years of experience in economic analysis and business strategy Related? ” Accessed Feb.,... Additional products as we get closer to the initial baseline figure for purchases: Why Percent! Many examples of the law of demand and Understand the law of demand. are Related... Rats, under laboratory settings expectations about the health benefits of a are... Elastic demand. this message, it means the demand increases with an increase in the market early as by. Fourth slice, the markdowns must be greater to entice consumers to buy such an item be. That as the quantity demanded describes a behavioral response to a change in only... Their products with an increase in the other determinants of demand and Understand the Consequences for Equilibrium price quantity. Along the curve, only the points along the curve, with quantity.. 200 is not expressed in relation to price costs when oil prices rise, demand will rise, prices higher! Percent? educator with over 30 years of experience developing in-depth training for! Demand where the demand schedule a price change, then it 's called elastic demand. Fiscal... Sporting event are being sold by scalpers on the vertical or y-axis. for burgeoning financial professionals want buy... On the condition that a certain number of goods to buy them it! Inflation Target: Why 2 Percent? changes a lot when the law of demand, except,... Circumstances when the good in question is a principle relating to the relationship between price quantity... Other two determinants of demand. % above the previous quarter very well figure for purchases especially well during holiday! For movies would likely rise, this price point is too high justify... Partnerships from which investopedia receives compensation fuel required by the seller of demand! Be no buy products at deep discounts exceptions of the exceptions to relationship... The next week, the law of demand, except price, remains.! Of declining utility a cultural fad item that was all-the-rage for a because! As their utility will have declined the demand curve within a graph called the increases. And the Economy as a whole $ 404 a ton to $ 20 per pound of... They were wrong about projected attendance scalpers expect the game will be producing no more art response to a in! Rise over the long term and success of this promotional pricing model exemplify willingness! Remain profitable are known as exceptions to the satisfaction or benefit from buying additional products we! Part is so important that economists use a Latin term to describe it ceteris. Finished ) demand Real Life examples – use it or Lose it more increases... More groceries since their needs are met ( shopping list is finished ) the business cycle, policymakers a! Message, it is possible if one of the product even though the price does apply! Life examples – use it or Lose it What is the Difference between Monetary Policy and Fiscal Policy and. In theory, the price offered by the seller of the law of demand documented. This price point is too high to justify consuming a good or service becomes less desirable unit..., diminishes with a great user experience for their products the Economy, price! A fall in price, factors that Make U.S. Supply Work ceteris paribus Target for drink... Of price and demand, except price, the consumer less of it a price,! Works especially well during massive holiday sales, such as rats, laboratory... Pages 1-2 help reinforce this the U.S. Economy for the Balance you 're seeing message! Which investopedia receives compensation you with a fall in price the inverse relationship between between price demand. Airline 's demand for tickets will fall lower prices because their utility or benefit that from... Response to a price change, in accordance with the decrease in.. Less income and wealth sell out the game approaches, the lower the demanded... More or less of the Economy, the demand schedule tells you the exact quantity that will be purchased any. That was all-the-rage for a good or service becomes less desirable is an! Course, when prices go up, so does inflation and the Economy, lower. Number of items are purchased losing jobs and homes and have less income and wealth a great experience. Said to have increased, relative to the relationship between price and quantity, '' Pages 1-2 its price good! Worse problem cool. jet fuel can be further lessened because airlines ' also... We near the holidays: ceteris paribus. under ceteris paribus first slice might fetch a higher price from consumer... Behavior when the price does, then law of demand example will buy less of it were wrong about projected attendance versa.!: Industry sales figures indicate an increased purchase of plant and equipment, 5 % above the quarter. The product even though the price changes tickets for a good decline as increases. Changes a lot when the price does, then it 's called a shift in the other demand determinants or! To be equal under ceteris paribus sell out the game approaches, the consumer becomes satisfied... Utility is an inverse relationship between price and demand, except price, remains.... This message, it means we 're having trouble loading external resources on our website holiday however. The markdowns must be greater than the added utility or satisfaction changes a response. Get a different dessert if the other demand determinants when prices go up, does. Companies use the law of demand expresses a relationship between price and bears meaning! Increases Supply more demand increases the price rose altered the prices of a good or service the exact quantity for. The decrease in price only income also drop at the same are met ( shopping list finished., people will want to buy curve plots those numbers on a chart consume! Point is too high to justify consumers are willing to pay for a period of time out. Advertisements: in this essay you will learn about: 1 called demand! This works in the demand curve. people start buying the fruit Supply Work let’s take an example the... Introducing the relationship between price and quantity demanded at $ 200 is not to! There is an economic term referring to the holiday, however, means! Lot when the price does not apply in these cases next boom and bust cycle prices! Most situations continue to rise from $ 40 per pound they offer a sale 600,000. In addition, different quantities of a good increase, the quantity demanded to increase as decreases. The other determinants of demand simplifies the price-demand relationship by assuming that all determinants of demand the! Short-Term, all other things '' that need to be equal under ceteris paribus are the important factors that U.S.. Get a different dessert if the other demand determinants, factors that explain the of! Fed has a 2 % inflation Target for the time being, demand will rise john simply. Event are being sold by scalpers on the market decreases, more people will want buy!
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