Final answer:
The question describes complementary goods, where a change in the price of one good affects the demand for another. An example is golf balls and clubs, where a decrease in the price of one leads to increased demand for the other, illustrating the law of demand.
Step-by-step explanation:
The scenario described relates to complementary goods, which are products and services that are typically used together. An example includes golf balls and golf clubs. According to the law of demand, a decrease in the price of one complementary good can lead to an increase in demand for the other complementary goods, and vice versa.
For instance, if the price of golf clubs goes down, more people might buy them, which increases the demand for golf balls as well. Conversely, if the price of ski equipment goes up, fewer people might go skiing, therefore leading to a reduced demand for complementary goods, like ski resort trips.
The relationship between price and quantity demanded is also explained by the law of demand, which states that there is an inverse relationship between the two, assuming all other variables remain constant.