What is the market demand?

Question

Quizplus · Accepted Answer

Market demand is the total demand for a particular good or service in a market, which is the sum of all individual demands for that good or service. Therefore, option A, "the sum of all individual demands" is the correct answer. Option B, "the demand for every product in an industry" is incorrect because market demand only applies to a specific good or service, not every product in an industry. Option C, "the average quantity demanded at each price" is incorrect because it only represents a specific point on a demand curve, not the entire curve or market demand. Option D, "the quantity demanded that exceeds supply" refers to a shortage or excess demand, not market demand.

What Is the Market Demand