ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is supply?
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What is money?
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What is demand?
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What is capital goods?
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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: -Demand is just how many of an item a consumer is willing to buy-the sheer quantity. Quantity demanded is how many things a consumer will purchase at a specific price.
Detailed explanation-3: -Want is a strong feeling, craving or demand of a person to possess some things. Demand refers to the claim, interest, order or ability to purchase that commodity at a given price.
Detailed explanation-4: -Determinants of Demand Buyer’s income. Prices of substitute goods. Consumer preferences. Consumer expectations for a change in price.
Detailed explanation-5: -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.