Economics: Demand Concepts

Derived demand

They have a complementary relationship

Composite demand

<p>For production of goods and services</p> Signup and view all the answers

<p>Manufacturing industry</p> Signup and view all the answers

<p>Higher prices or reduced availability of steel for other industries</p> Signup and view all the answers

<p>The quantity of a good or service that an individual producer is willing to offer for sale at different price levels</p> Signup and view all the answers

<p>The quantity of a good or service that consumers are willing to purchase at various prices</p> Signup and view all the answers

<p>The quantity of a good or service that producers are willing and able to offer for sale at various prices</p> Signup and view all the answers

<p>The demand for two or more goods together to fulfill a specific need</p> Signup and view all the answers

<p>The total quantity of a good or service that all producers in the market are willing and able to offer for sale at different price levels</p> Signup and view all the answers

<p>The desire, ability, and willingness of consumers to acquire a product at various prices</p> Signup and view all the answers