Wednesday, March 26, 2014
Think of demand
Demand is a buyer's willingness and ability to pay a price for a specific quantity of a good or service. Demand refers to how much (quantity) of a product or service is desired by buyers at various prices.
Definition of 'Demand'
An economic principle that describes a consumer's desire and willingness to pay a price for a specific good or service. Holding all other factors constant, the price of a good or service increases as its demand increases and vice versa.
Investopedia Says
Investopedia explains 'Demand'
Think of demand as your willingness to go out and buy a certain product. For example, market demand is the total of what everybody in the market wants.
In economics, demand for a good or service is an entire listing of the quantity of the good or service that a market would choose to buy, for every possible market price of the good or service. (Note: This distinguishes "demand" from "quantity demanded", where demand is a listing or graphing of quantity demanded at each possible price. In contrast to demand, quantity demanded is the exact quantity demanded at a certain price. Changing the actual price will change the quantity demanded, but it will not change the demand, because demand is a listing of quantities that would be bought at various prices, not just the actual price.)
Demand is a buyer's willingness and ability to pay a price for a specific quantity of a good or service. Demand refers to how much (quantity) of a product or service is desired by buyers at various prices. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand.[1] (see also supply and demand). The term demand signifies the ability or the willingness to buy a particular commodity at a given point of time.
Definition of 'Demand'
An economic principle that describes a consumer's desire and willingness to pay a price for a specific good or service. Holding all other factors constant, the price of a good or service increases as its demand increases and vice versa.
Investopedia Says
Investopedia explains 'Demand'
Think of demand as your willingness to go out and buy a certain product. For example, market demand is the total of what everybody in the market wants.
In economics, demand for a good or service is an entire listing of the quantity of the good or service that a market would choose to buy, for every possible market price of the good or service. (Note: This distinguishes "demand" from "quantity demanded", where demand is a listing or graphing of quantity demanded at each possible price. In contrast to demand, quantity demanded is the exact quantity demanded at a certain price. Changing the actual price will change the quantity demanded, but it will not change the demand, because demand is a listing of quantities that would be bought at various prices, not just the actual price.)
Demand is a buyer's willingness and ability to pay a price for a specific quantity of a good or service. Demand refers to how much (quantity) of a product or service is desired by buyers at various prices. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand.[1] (see also supply and demand). The term demand signifies the ability or the willingness to buy a particular commodity at a given point of time.
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