__________ is the number of units that individuals are __________ to buy at a particular price during some time period.
A) Demand; willing and able
B) Supply; willing and able
C) Quantity demanded; willing and able
D) Demand; able
E) Quantity demanded; willing

Question

Quizplus · Accepted Answer

Quantity demanded is the specific quantity of a product that consumers are willing and able to buy at a given price and time, while demand refers to the overall relationship between price and quantity demanded at all possible price levels. The term "willing and able" is important because it implies that demand is not just about desire for a product, but also the ability to pay for it. Supply, on the other hand, refers to the quantity of a product that producers are willing and able to sell at a given price and time. Therefore, option C is the correct choice as it accurately defines the concept of quantity demanded in the context of demand theory.

__________ Is the Number of Units That Individuals Are __________

Is the Number of Units That Individuals Are