ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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willingness and desire to buy a good
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willingness and ability to buy a good
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ability to buy a good
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willingness to buy a good
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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: -In economics, demand refers to how much of a good or service consumers are willing to buy at a given price. The law of demand states that as price increases, demand generally falls, and vice versa.
Detailed explanation-3: -Demand is the desire, willingness and ability of consumers to pay a certain price for a product or service at a given period. Businesses can use it to determine the necessary supply and how to price an item.
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: -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. An increase in the price of a good or service tends to decrease the quantity demanded.