The amount of a good or service that buyers would be willing and able to purchase at a specific price is known as
A) quantity demanded
B) demand
C) supply
D) quantity supplied
E) opportunity cost

Question

Quizplus · Accepted Answer

Demand refers to the overall willingness and ability of buyers to purchase a good or service at various prices. Quantity demanded, on the other hand, specifically refers to the amount of that good or service that buyers are willing and able to purchase at a particular price point. Therefore, the best choice for this question is A) quantity demanded.

The Amount of a Good or Service That Buyers Would