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Sign in to saveIn economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time. In economics "demand" for a commodity is not the same thing as "desire" for it. It refers to both the desire to purchase and the ability to pay for a commodity.
Demand is the amount of a good that people are willing and able to buy at different prices during a certain period—it's not just about wanting something, but having the money to actually purchase it. Understanding demand matters because it helps explain how prices and availability of products are determined in the marketplace.
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Wikidata facts
- Part of
- supply and demand
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- topic's main category
- Category:Demand
- opposite of
- supply
- equivalent class
- schema.org/Demand
- Commons category
- Demand
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