The term "demand" refers to
A) the stock exchange.
B) the willingness and ability of buyers to purchase a product or service.
C) the willingness and ability of businesses to sell a product or service.
D) the willingness of buyers to accept high prices for high quality goods.
E) the willingness of government to sell goods and services.

Question

Quizplus · Accepted Answer

Demand refers to the willingness and ability of buyers to purchase a product or service. It is a key factor in determining the price and quantity of goods and services that are produced and consumed in the economy.

The Term "Demand" Refers to