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Demand - Wikipedia In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time [1][2] In economics "demand" for a commodity is not the same thing as "desire" for it It refers to both the desire to purchase and the ability to pay for a commodity [2]
DEMAND Definition Meaning - Merriam-Webster demand, claim, require, exact mean to ask or call for something as due or as necessary demand implies peremptoriness and insistence and often the right to make requests that are to be regarded as commands
What Is Demand? | Microeconomics - Lumen Learning 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 Demand is also based on ability to pay
Demand Explained: How It Works, Key Factors, and Examples Consumers and businesses alike must understand how demand operates to make informed decisions This article will explore how demand works, the economic determinants behind it, and the various principles and models that help explain it
What is Demand? Meaning, Definition, and Types What does demand mean in economics? Demand in economics refers to the quantity of a product or service that consumers are both willing and able to purchase at different price levels over a specific period
Demand - Econlib When economists refer to demand, they usually have in mind not just a single quantity demanded, but what is called a demand curve A demand curve traces the quantity of a good or service that is demanded at successively different prices
Demand - Oveview, Types, How It Works, and Factors Demand is a principle that refers to a consumer’s willingness to pay for a good or service Assuming that all else is equal, a rise in the price of a good or service will result in a fall in the quantity demanded