demand

Question 1

what is demand

Answer 1

a demand is a desire backed by the ability to pay

Question 2

what the definition of demand

Answer 2

demand is the quantity of the good or service that consumer are both willing and able to buy at any given price over a period of time

Question 3

what is willing and able?

Answer 3

willing - you want to buy it

able- you have the means (money ) to buy it

Question 4

what is a demand schedule?

Answer 4

table of that sets out the quantity of a good or service that a consumer is willing and able to buy at a range of prices within a given time frame.

Question 5

what is demand qraph

Answer 5

graph of that sets out the quantity of a good or service that a consumer is willing and able to buy at a range of prices within a given time frame.

Question 6

what is the law of demand

Answer 6

states that an increase in the price of a good service will result in a decrease in the quantity demand or vice versa assuming ceteris furious.

Question 7

what is ceteris paribus ?

Answer 7

the term that all factors (apart from one) remain the same