In economics, the demand for a good refers to the amount of the good people
A) would like to have if the good were free.
B) are willing to buy at various prices.
C) need to achieve a minimum standard of living.
D) will buy at alternative income levels.

Question

Quizplus · Accepted Answer

The demand for a good refers to the amount of the good people are willing to buy at various prices. It is important to understand that demand is not the same as need or want - it is specifically related to the willingness and ability to purchase the good at a given price. Therefore, option B is the best choice.

In Economics, the Demand for a Good Refers to the Amount