ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Desire backed by the ability to pay and willingness to buy that commodity is called demand. Production and price of a commodity depends on the demand of that good.

Detailed explanation-2: -Demand refers to the consumer’s desire and willingness to buy a product or service at a given period or over time. Consumers must also have the ability to pay for something they want or need as determined by their disposable income budget.

Detailed explanation-3: -The Demand for goods or services is defined as the desire of a consumer to purchase that commodity.

Detailed explanation-4: -Demand is the desire, willingness, and ability to buy a good or service. price and the quantities bought and sold. Several factors can cause market demand for a product or service to change.

Detailed explanation-5: -Demand is the desire, ability, and willingness to buy a product or service. Q. Prices act as a motivating influence, or incentive, that causes an individual to take action.