Market demand refers to the total quantity of a product or service that all consumers in a market are willing and able to buy at a specific price level during a given period of time. This concept is derived by adding up the individual demands of all consumers in the market for that product or service. Therefore, the correct choice is A.

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The Market Demand Is

Question 81

Multiple Choice

The market demand is

A) the sum of all individual demands.
B) the demand for every product in an industry.
C) the average quantity demanded by individual demanders at each price.
D) positively related to the price of the product in question.

Correct Answer: