-What does the term "demand" refer to?
A)The amounts that consumers are either willing or able to purchase at various prices.
B)The amounts that consumers are both willing and able to purchase at various prices.
C)The quantity purchased at the equilibrium price.
D)The price consumers are willing to pay for a certain quantity of a product.

Question

-What does the term "demand" refer to?
A)The amounts that consumers are either willing or able to purchase at various prices. 
B)The amounts that consumers are both willing and able to purchase at various prices. 
C)The quantity purchased at the equilibrium price. 
D)The price consumers are willing to pay for a certain quantity of a product.

Quizplus · Accepted Answer

Demand refers to the quantities of a product or service that consumers are both willing and able to purchase at various prices, not just what they wish to buy or can buy, but a combination of both willingness and ability.

-What Does the Term "Demand" Refer To