Which statement best describes a decrease in demand?

A decrease in demand typically occurs when consumers prioritize other products over the one in question. This scenario can arise due to a variety of factors, such as changes in consumer preferences, the introduction of superior alternatives, or shifts in trends. When consumers find that there are better options available or that their interests have changed, they are less inclined to purchase the product, which directly impacts its demand negatively.

The other options present situations that do not illustrate a decrease in demand. For instance, when more people want to buy a product, it signifies an increase in demand rather than a decrease. Additionally, a consistently low price usually attracts consumers and can stimulate demand, rather than decreasing it. Finally, when companies increase supply, it suggests that they anticipate higher demand or are attempting to meet existing demand rather than indicating that demand has decreased.