If the demand bounces when the price changes, it means that there is a change in demand caused by several factors. This of course makes a businessman think critically in dealing with this problem.
Demand is the amount of goods and services that consumers want and can afford to meet their needs at various price levels and at certain times in the market. Usually, the high demand will affect the price. Conversely, low demand will also make prices lower.
The law of demand is a law that explains the existence of a negative relationship between the price level and the quantity of goods demanded. If the price increases, the quantity demanded will decrease, and if the price is low, the quantity demanded will increase. The law of demand is not absolute but has an absolute nature in ceteris paribus conditions (other factors are considered constant).
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