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    Is the demand for a product always downward sloping?

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    In economics, the demand for a product is considered downward sloping. This implies that demand increases when price decreases. Is this always true? Name some products for which the demand remains unchanged regardless of the price. Also, mention some products for which demand increases when the prices increase. Give appropriate examples and justify your answer.

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    This isn't always the case. For example, the demand for necesities might, at least theoretically, be a straight vertical line. For example, the demand for ...

    Solution Summary

    Answers: In economics, the demand for a product is considered downward sloping. This implies that demand increases when price decreases. Is this always true? Name some products for which the demand remains unchanged regardless of the price. Also, mention some products for which demand increases when the prices increase. Give appropriate examples and justify your answer.

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