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meaning of demand |
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Answer» Demand may may be defined as desire of person to buy a product with sufficient purchasing power and willingness to pay In economics demand refers to the quantity of a commodity that a consumer is willing and able to buy at a particular price during a given period of time Demand is an economic term that refers to the amount of products or services that consumers wish to purchase at any given price level. The mere desire of a consumer for a product is not demand. Demand includes the purchasing power of the consumer to acquire a given product at a given period. In other words, it’s the amount of products or services that consumers are willing and able to purchase |
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