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The meaning of DEMAND is an act of demanding or asking especially with authority. How to use demand in a sentence. Synonym Discussion of Demand.
Demand is an economic principle that describes consumer willingness to pay a price for a good or service.
DEMAND definition: 1. to ask for something forcefully, in a way that shows that you do not expect to be refused: 2…. Learn more.
Supply refers to the total amount of a product or service that producers are willing to provide at various prices, while demand represents the willingness of consumers to purchase a product or service at different prices. Both supply and demand play a crucial role in determining the market price of goods and services.
Demand is the quantity of a good that consumers are willing and able to purchase at various prices at a given time. This example assumes that product...
Define the quantity demanded of a good or service and illustrate it using a demand schedule and a demand curve. Distinguish between the following pairs of concepts: demand and quantity demanded, demand schedule and demand curve, movement along and shift in a demand curve.
Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price. Demand is based on needs and wants—a consumer may be able to differentiate between a need and a want, but from an economist’s perspective, they are the same thing. Demand is also based on ability to pay.
More precisely and formally the Economics Glossary defines demand as "the want or desire to possess a good or service with the necessary goods, services, or financial instruments necessary to make a legal transaction for those goods or services."
Demand definition: to ask for with proper authority; claim as a right. See examples of DEMAND used in a sentence.
To demand is to ask in a bold, authoritative way: to demand an explanation. To claim is to assert a right to something: He claimed it as his due. To require is to ask for something as being necessary; to compel: The Army requires absolute obedience of its soldiers.