If prices rise while income remains unchanged, what is likely to happen to demand?

When prices rise while income remains unchanged, consumers have less purchasing power for the same amount of income. This typically leads to a decrease in demand for goods and services, as individuals cannot afford to buy as much as they could previously when prices were lower. With higher prices, consumers may prioritize essential goods and cut back on discretionary spending, resulting in a reduced overall demand for both luxuries and non-essential items.

Therefore, it is accurate to say that in this scenario, a rise in prices coupled with stagnant income impacts consumers' willingness or ability to purchase goods, leading to a decrease in demand. This phenomenon is consistent with the law of demand, which states that, all else being equal, an increase in the price of a good can lead to a decrease in the quantity demanded for that good.