Which of the following is true regarding demand?
i.Demand is the relationship between quantity demanded and the price of a good when all other influences on buying plans remain the same.
ii.Demand refers to one quantity at one time.
iii."Demand" and "quantity demanded" are the same thing.
A) i only
B) ii only
C) both i and ii
D) iii only
E) both ii and iii

Question

Quizplus · Accepted Answer

This statement accurately defines demand as a relationship between the quantity of a good or service demanded and its price, while holding all other factors constant. Statement ii is incorrect since demand represents the entire demand curve, indicating the quantity demanded at different price points. Statement iii is also incorrect since demand refers to the entire relationship between price and quantity demanded, while quantity demanded only refers to a specific amount of a good or service desired at a particular price point.

Which of the Following Is True Regarding Demand