The figure given below represents the PPC in two nations

Question

The figure given below represents the PPC in two nations - Germany and Korea, producing only two goods, cars and food.Figure 2.4
 
-Identify the correct statement.
A)Demand is the total quantity of a product that people are willing, even if unable, to purchase at a given price. 
B)Demand for a product is the same as the quantity demanded of a product. 
C)Demand represents the different quantities of a good or service that provides consumers the same amount of utility. 
D)Demand is the quantity of a product that people are willing and able to purchase at different prices. 
E)Demand is the quantity of a product that producers are willing to produce at a particular price.

Quizplus · Accepted Answer

Demand is the quantity of a product that consumers are willing and able to purchase at different prices. Option A refers to willingness to purchase even if unable, which is not the same as demand. Option B only refers to the quantity demanded at a given price, but not necessarily the quantity that consumers are willing and able to purchase at different prices. Option C is referring to the concept of marginal utility, which is related to demand but not the same. Option E refers to the quantity of a product that producers are willing to produce, which is not the same as demand.