Demand that is stable over time is called ____.
A)Static
B)Dynamic
C)Stochastic
D)Deterministic

Question

Quizplus · Accepted Answer

Static demand refers to demand that remains constant over an extended period of time. It is often seen in basic necessities such as food, clothing and shelter, as well as in industries that produce goods that are necessary for everyday life such as utilities or transportation. In contrast, dynamic demand fluctuates based on factors such as changes in consumer preferences, seasonality, or economic conditions, while stochastic and deterministic demand refer to demand that is unpredictable and follows a pattern respectively.

Demand That Is Stable Over Time Is Called ____