ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -DEMAND-the desire, ability, and willingness to buy a product. that shows the various quantities demanded of a particular product at all prices that might prevail in the market at a given time.

Detailed explanation-2: -Desire refers to the wish a person has. Want is a strong feeling of possessing some things. Demand refers to the desire to have a commodity backed by willingness and ability to purchase that commodity at given price during a period of time.

Detailed explanation-3: -They are demand-the desire, willingness, and ability to buy a good or service, and supply-the quantities of a good or service that producers are willing to sell at all possible market prices. 566.

Detailed explanation-4: -Demand simply means a consumer’s desire to buy goods and services without any hesitation and pay the price for it. In simple words, demand is the number of goods that the customers are ready and willing to buy at several prices during a given time frame.

Detailed explanation-5: -The term demand means the willingness and ability of buyers to purchase goods and services. According to the law of demand, there is an inverse relationship between the price of a good and the quantity demanded. The quantity demanded is the quantity that buyers are willing and able to pay for.