Law of Demand
Every consumer pays the price of any commodity on the basis of its utility, and for any commodity, he will not pay more price/money than its utility, and utility will decrease with the increase in consumption, so any person can consume or demand any commodity only when its value falls.
Thus we can say that, as the price of a commodity falls, so does its demand if income, interest and prices of other goods remain constant. This is called the law of demand in economics. It was propounded by the famous economist Alfred Marshall.
