ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Need for the commodity
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Desire for the commodity
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Amount of the commodity demanded at a particular price and at a particular time
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Quantity demanded of that commodity
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Detailed explanation-1: -Demand for a commodity refers to amount of the commodity demanded at a particular price and at a particular time. Q. Quantity demanded is a specific amount of a commodity that the consumer is ready to buy against a specific price at a particular time.
Detailed explanation-2: -Demand for a commodity refers to the Quantity of the commodity demanded at a certain price during any particular period of time.
Detailed explanation-3: -Demand refers to the quantity of a commodity demanded that consumers are willing and able to purchase at a certain price during any particular period of time.
Detailed explanation-4: -When the demand for a commodity depends on the effect of a change in price of a related commodity, it is called cross price effect. Here the goods are said to be related and the demand for one changes in response to change in price of the other.
Detailed explanation-5: -Individual demand: Refers to the demand for a commodity from an individual. That quality of a commodity a consumer would buy at a given price during a given period of time is his individual demand for that particular commodity.