In introductory economics courses around the world, demand is always drawn downward sloping so that as price rises, ceteris paribus, quantity demanded falls. Economists have long been intrigued, howev...In introductory economics courses around the world, demand is always drawn downward sloping so that as price rises, ceteris paribus, quantity demanded falls. Economists have long been intrigued, however, by a perplexing possibility: quantity demanded rising as price rises. An upward sloping demand curve! Can this happen? Yes, but it is quite rare and it took decades to figure it out.
In general, the law of demand states that the quantity demanded and the price of a good or service is inversely related, other things remaining constant.
