What students should know
Below are definitions of demand from the perspective of some notable professors:
The demand for goods is a schedule of the amounts that buyers would be willing to purchase at all possible prices at any one instant of a time.
Demand is the various quantities of goods that would be purchased per time period at different prices in a given market.
The demand for anything, at a given price is the amount of it which will be bought per unit of time at the price.
Generally, demand is defined as the willingness of a person, buyer or consumer to buy a specific quantity of goods or service at a given price and time.
From the above definitions, we can infer that the definition of demand is referenced to three major factors. These are:
Quantity of Goods Demanded
In economics, we have various types of cost. These are:
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Questions for Student
In a food chain, the primary consumers are classified under trophic level _____.
A legal process through which a citizen of one country gains citizenship into another country is termed _____.
A. International pass
B. Residential pass
E. Green card
A total estimation of a person's character and quality especially by those who know such person is termed _____.
B. Individual assessment
F. Cross examination