Demand is the quantity of a product that consumers are willing and able to purchase. This will be affected by a wide range of different factors including: price of related goods, consumer incomes, changing fashion, tastes and preferences, advertising and branding, demographics, external factors and seasonal factors.
But price is the key factor which will affect the quantity of a product demanded. An increase in price means fewer consumers will be willing and able to buy a product which means that the demand curve is downward sloping.
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