GK
BUSINESS ECONOMICS
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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 consumers are willing and able to buy is called
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Supply
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Economic Want
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Demand
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Economic Amount
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Explanation:
Detailed explanation-1: -In economics, quantity demanded refers to the total amount of a good or service that consumers demand over a given period of time. Quantity demanded depends on the price of a good or service in a marketplace.
Detailed explanation-2: -Q. Individual demand refers to the quantity of the commodity that a consumer is able and willing to buy at each possible price during a given period of time.
Detailed explanation-3: -They have therefore developed some specific terms for expressing the general concept of demand. The quantity demanded of a good or service is the quantity buyers are willing and able to buy at a particular price during a particular period, all other things unchanged.
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