Why is the Law of Demand referred to as a "law" in economics?

The Law of Demand is referred to as a "law" in economics primarily because it has been consistently demonstrated through observation and empirical evidence over time. This principle states that, all else being equal, as the price of a good or service decreases, the quantity demanded by consumers tends to increase, and conversely, as the price increases, the quantity demanded decreases. This inverse relationship between price and quantity demanded has been validated in a wide array of market scenarios, making it a foundational concept in economic theory.

The term "law" in this context reflects its reliability and predictability in explaining consumer behavior, akin to other laws in the sciences that describe consistent patterns. While there might be exceptions in very specific circumstances, the general rule holds true across various markets, which reinforces its classification as a "law."