Demand is defined as

Question

Quizplus · Accepted Answer

Demand is the schedule, or relationship, between the price of a good or service and the quantity of that good or service that consumers are willing and able to buy during a particular time period, while holding other factors constant. Therefore, option A best defines the concept of demand. Option B is incorrect because demand refers to a schedule or relationship rather than a specific quantity. Option C is incorrect because demand relates to a specific good or service, not to a different item. Option D is incorrect because demand does not pertain to a specific quantity of a good or service at a specific price of another item.

Demand Is Defined as