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Social Science Categories
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| Definition Of: |
demand
The maximum quantities of some good that people will choose (or buy) at different prices. An identical definition is the relative value of the marginal unit of some good when different quantities of that good are available.
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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Economics 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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