Demand Flashcards
1
Q
Demand
A
The desire backed up by the ability to pay. otherwise it is a want
2
Q
What is the definition of demand
A
Demand is the quantity of a good or service that consumers are both willing and able to buy at any given price over a period of time.
3
Q
What is and willing and able mean
A
Willing is you want to have it and able you have to money to purchase it.you will use the money to purchase it.