Demystifying Demand
5 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following best defines demand in Economics?

  • The desire to purchase a good or service
  • The willingness to use means to purchase a good or service
  • The ability to pay for a good or service
  • The quantity of a good or service that buyers are willing and able to purchase at various prices (correct)

    • What factors determine demand for a good or service?

  • Prices and willingness to pay
  • Desire only
  • Prices only
  • Desire and purchasing power (correct)

    • What is necessary for desire to constitute demand?

  • Real-world constraints
  • Purchasing power and willingness to pay (correct)
  • Prices
  • Limited means to pay

    • What does effective demand depend on?

    <p>Desire, means to purchase, and willingness to pay</p> Signup and view all the answers

    What is considered in economic analysis and business decisions?

    <p>Effective demand</p> Signup and view all the answers

    More Like This

    Mga Salik na Nakaaapekto sa Demand sa Ekonomiya
    10 questions

    Komplementaryo at Mga Salik ng Demand Quiz at Flashcards

    ElatedRationality avatar
    ElatedRationality
    Demand Factors and Income
    10 questions

    Demand Factors and Income

    ElatedRationality avatar
    ElatedRationality
    Factors Determining Demand
    10 questions

    Factors Determining Demand

    StraightforwardNavy7597 avatar
    StraightforwardNavy7597
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser