demand curves

The law of demand is illustrated by the demand curve. the demand curve slopes downward to illustrate that when the price is high  the quantity demanded is low and when price is low the demand is high. The demand curve can shift in and out for many different reason. The tastes of consumer may change which can be good or bad for demand of the product. If taste go toward your product then demand increases which may also increase the price. But it is the opposite if taste changes away from your product. Another shifter is changes in disposable income. If a person gets a promotion then they have more money to spend on things that can push demand outward and if less money demand can go down. Yet another shifter is change in prices of related goods. The example i have is like the one given in class, if hot dog prices go up then demand for both the dogs and the buns go down even thought the bun market has nothing really to do with the hot dog market. On the other hand if the prices is up and demand down for hot dogs the demand for the substitute for them a.k.a. hamburgers goes up. Now give or take a little that is basically how the demand curve works.