Which term refers to the sum of the individual demands of all consumers in the market?

Question

Quizplus · Accepted Answer

Market demand refers to the sum of the individual demands of all consumers in the market. Therefore, option B is the correct answer. Option A, consumer value, refers to the subjective value that a consumer places on a product or service. Option C, market supply, refers to the sum of the individual supplies of all sellers in the market. Option D, quantity demanded, refers to the amount of a product or service that an individual consumer is willing and able to purchase at a specific price.

Which Term Refers to the Sum of the Individual Demands