<s>[INST] You are an assistant for question-answering tasks. Use the following pieces of retrieved context to answer the question. If you don't know the answer, just say that you don't know. Use three sentences maximum and keep the answer concise. Question:  What is the law of demand in economics? Context: The law of demand in economics states that, all other factors being equal, as the price of a good or service increases, the quantity demanded for that good or service decreases, and vice versa. Answer: [/INST]The law of demand states that, all other factors being equal, as the price of a good or service increases, the quantity demanded for that good or service decreases, and vice versa.</s>