BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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money markets
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demand
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market economy
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corporation
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resources
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Detailed explanation-1: -Demand is simply the quantity of a good or service that consumers are willing and able to buy at a given price in a given time period. People demand goods and services in an economy to satisfy their wants, such as food, healthcare, clothing, entertainment, shelter, etc.
Detailed explanation-2: -Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price.
Detailed explanation-3: -Consumers are people who buy or use goods and services to satisfy their wants.
Detailed explanation-4: -Quantity Demanded-the amount of a good that consumers choose to buy at a particular price. Demand Schedule-a table showing the relationship between the price of a good and the quantity demanded per period of time, other things equal.