When consumers share a strong need that cannot be satisfied by an existing product, it is called ________ demand.
A) negative
B) latent
C) declining
D) irregular
E) nonexistent

Question

Quizplus · Accepted Answer

When consumers have a strong need but there are no products available to satisfy it, it is called latent demand. This means that there is an untapped market for a product or service that does not currently exist. Negative demand refers to a situation where customers actively dislike a product and would prefer it not to exist. Declining demand refers to a situation where demand for a product is decreasing over time. Irregular demand refers to a situation where demand for a product fluctuates unpredictably. Nonexistent demand refers to a situation where there is no demand for a product because there is no need or desire for it.

When Consumers Share a Strong Need That Cannot Be Satisfied