ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The quantity of a good or service that producers are willing and able to purchase, at a particular price and at a particular time.
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The quantity of a good or service that consumers are willing and able to purchase, at a particular price and at a particular time.
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The quantity of a good or service that producers are willing and able to purchase, at a sell price and at a particular time.
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The quantity of a good or service that consumers are willing and able to sell, at a particular price and at a particular time.
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Detailed explanation-1: -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. Understanding the concept of demand.
Detailed explanation-2: -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-3: -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. Therefore, demand is a force that affects economic growth and market expansion.
Detailed explanation-4: -Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price. Demand is based on needs and wants-a consumer may be able to differentiate between a need and a want, but from an economist’s perspective they are the same thing.
Detailed explanation-5: -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.