In economic theory, the word "demand" refers to
A) the amount people are willing to purchase at various prices.
B) those wants or needs that are urgent or pressing.
C) wants that are economic in character rather than social, cultural, or spiritual.
D) the desire of persons for a good, regardless of whether they're willing to purchase the good.

Question

Quizplus · Accepted Answer

Demand in economic theory refers to the quantity of a good or service that consumers are willing and able to purchase at various prices, not just the desire or need for it.

In Economic Theory, the Word "Demand" Refers to