ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Able
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Hopeful
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Elastic
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None of the above
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Detailed explanation-1: -Demand is the quantity of consumers who are willing and able to buy products at various prices during a given period of time. Demand for any commodity implies the consumers’ desire to acquire the good, the willingness and ability to pay for it.
Detailed explanation-2: -Demand is an economic concept that relates to a consumer’s desire to purchase goods and services and willingness to pay a specific price for them.
Detailed explanation-3: -Demand is the consumer’s desire to purchase a particular good or service. Market demand is the demand for a particular good in the market. Aggregate demand is the total demand for goods and services in the economy. Demand and supply match determines the price of the good or service.
Detailed explanation-4: -Demand can be of the following types: Market demand. Individual demand. Cross demand.
Detailed explanation-5: -i. Individual and Market Demand: ii. Organization and Industry Demand: iii. Autonomous and Derived Demand: iv. Demand for Perishable and Durable Goods: v. Short-term and Long-term Demand: