Question

The law of demand states that, other things equal, when the price of a good rises, the quantity demanded of the good rises, and when the price falls, the quantity demanded falls.

Answer 1

The given statement about the law of demand is false and the appropriate law is explained below.

What is Law of Demand?

This refers to the economic principle which states that when there is an increase in demand for a product, then the price of the good will decrease.

With this in mind, we can see that the law of demand works with  the supply of goods as if for example there is an increase in price for a particular bar of soap, then the demand reduces.

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