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Social Science Categories
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| Definition Of: |
demand
The willingness and ability of the people within a market area to purchase particular amounts of a good or service at a variety of alternative prices during a specified time period. [See also: law of demand, demand curve, demand schedule, supply]
Other things being held constant, the lower the price of a good (or service), the greater the quantity of it that will be demanded by purchasers at any given time. [See also: demand curve , demand schedule , demand , law of supply ]
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Dictionary of Political Economy INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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Page Number:
1 A: Page 1 of 1.
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