Demand is defined as the quantities that buyers are willing and able to purchase at different prices. It is a relationship between price and quantity, and shows the amount of a good or service that buyers are willing and able to buy at various price points. It is not just the quantity actually purchased, nor is it limited to the needs of an individual.

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Demand Is Defined as

Question 41

Multiple Choice

Demand is defined as

A) the quantity people would buy at a given price.
B) the quantity needed by an individual during a given time.
C) the amount of a good actually purchased during a given time.
D) the quantities that buyers will purchase at different prices.

Correct Answer: