A buyer is said to have a demand for a good only when
A)The buyer is not willing to buy the good and does not have enough income to purchase the good.
B)The buyer is both willing and able to purchase the good.
C)The buyer has the income but the good is not preferred.
D)An adequate supply of the good is available for purchase.

Question

Quizplus · Accepted Answer

For a buyer to have a demand for a good, they must be both willing and able to purchase the good. This means that they have the desire or want for the good (willingness) and also have the financial resources to actually make the purchase (ability). Option A states that the buyer does not have enough income, which means they are not able to purchase the good, and option C states that the good is not preferred, which means they are not willing to purchase the good. Option D refers to supply, which is not relevant to the concept of demand.

A Buyer Is Said to Have a Demand for a Good