Final answer:
The total quantity demanded by various consumers like Ganiyat, Wilson, and others at different prices forms the market demand for that period. The concept is governed by the law of demand, which indicates an inverse relationship between price and quantity demanded.
Step-by-step explanation:
The total quantity demanded at each price by Ganiyat, Wilson, Vivian, Olusanya, Adedeji, Obaka and others is the market demand for the month. Price is what a buyer pays for a unit of a specific good or service. When the price rises, there typically is a decrease in the quantity demanded due to the law of demand, as buyers seek alternatives or ways to reduce their consumption.
Conversely, a decrease in price usually results in an increase in quantity demanded. This concept is core to understanding how markets work and is reflected in a demand curve which shows the relationship between price and quantity demanded.
In the context of the question, if the price of gasoline increases, individuals might combine errands or use different modes of transport to reduce their need for gasoline, demonstrating the law of demand's principle that as prices increase, quantity demanded decreases, assuming all other factors remain constant.