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- Dictionarydemand/dɪˈmɑːnd/
noun
- 1. an insistent and peremptory request, made as of right: "a series of demands for far-reaching reforms" Similar
verb
- 1. ask authoritatively or brusquely: "‘Where is she?’ he demanded" Similar
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Jun 20, 2024 · Demand is an economic concept that relates to a consumer's desire to purchase goods and services and willingness to pay a specific price for them. An increase in the price of a good or...
In simple words, demand is the number of goods that the customers are ready and willing to buy at several prices during a given time frame. Preferences and choices are the basics of demand, and can be described in terms of the cost, benefits, profit, and other variables.
Jan 17, 2021 · Demand in economics is a relationship between various possible prices of a product and the quantities purchased by the buyer at each price. In this relationship, price is an independent variable and the quantity demanded is the dependent variable. In a market, the behavior of consumer can be analysed by using the concept of demand.
Demand may be defined as the quantity of a commodity that a consumer is able and willing to buy, at each possible price, over a given period of time. Essential elements of demand are quantity, ability, willingness, prices, and period of time. Own price is the most important determinant of demand.
Demand definition is a customer’s ability and desire to purchase a good or service, given a fixed income level. It is one of the fundamental factors of economic growth, and without it, other economic activities like production, supply, etc. will cease to exist.
Demand is a principle of economics that captures the consumer's desire to buy the product or service. The demand is calculated as the price the consumers are willing to pay for the product or service. If we keep all other factors constant, the demand should go up as the prices go down, and the demand should go down as the prices go up.
Jun 8, 2021 · Definition of Supply and Demand. Supply and demand are two fundamental economic concepts that govern the behavior of buyers and sellers in a market.
In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time. [1][2] In economics "demand" for a commodity is not the same thing as "desire" for it. It refers to both the desire to purchase and the ability to pay for a commodity. [2]
DEMAND definition: 1. to ask for something forcefully, in a way that shows that you do not expect to be refused: 2…. Learn more.
The meaning of DEMAND is an act of demanding or asking especially with authority. How to use demand in a sentence. Synonym Discussion of Demand.
