Quantity demanded is the total amount of goods which individuals want and are able to buy. This is important in economics, because supply and demand decide how much of a good will be bought and sold. It is the amount of goods that people want to buy at a given price. Prices go up when supply is less, and demand is more.It follows the law of demand where as price increases, quantity demanded decreases and vice versa showing an inverse relationship between quantity demanded and price. This is known as the law of demand which assumes that the consumer is alive.