Explain in detail how a decrease in consumer demand for a product will result in less of the product being produced and in fewer resources being allocated to its production

Please provide the best answer for the statement.

Given the supply schedule or supply curve, a decrease in consumer demand means less quantity demanded than was previously the case at each possible price. The demand curve shifts to the left.
Graphically, this will result in a new lower equilibrium quantity offered at a lower equilibrium price because consumers will not buy as much at the original equilibrium price. To eliminate a surplus at the old price, competing firms will lower the price until the quantity offered is just equal to the quantity demanded. This new quantity offered will not be as great as the original quantity. Because of less output, fewer resources will be needed.