Question

    Demand is an economic principle referring to a consumer's desire to purchase goods and services:

    A at each possible price Correct Answer Incorrect Answer
    B in each market situation Correct Answer Incorrect Answer
    C in desired quantities Correct Answer Incorrect Answer
    D after assurance of quality Correct Answer Incorrect Answer

    Solution

    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 service tends to decrease the quantity demanded.

    Practice Next
    ×
    ×