In economics, what does the demand for a good refer to?
A) The amount people would like to have if the good was free.
B) The amount people need to achieve a minimum standard of living.
C) The amount people will buy at alternative income levels.
D) The amount people will buy at various prices.

Question

Quizplus · Accepted Answer

The demand for a good refers to the amount of that good that people will buy at various prices. It is a function that shows the relationship between the price of a good and the quantity of the good that consumers are willing and able to buy at that price.

In Economics, What Does the Demand for a Good Refer