Demand Flashcards

1
Q

Demand

A

The desire backed up by the ability to pay. otherwise it is a want

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly