ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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an individuals need or desire for a good or service at a given price.
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how much of a good or service is being produced.
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Either A or B
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None of the above
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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.
Detailed explanation-2: -What Is Demand? 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: -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-4: -Which of the following responses best defines the term demand? The willingness and ability of buys to purchase a product, good, or service.
Detailed explanation-5: -Meaning of demand price in English the price that people are willing to pay for goods and services when a particular amount or quantity is available: When the demand price is greater than the supply price, the amount produced tends to increase.