real demand - Fixanswer - Get your knowledge fix!

Which Two Conditions Must Be Present For There To Be Demand For A Product?

January 24, 2024 by Ahmed Ali

Which Two Conditions Must Be Present For There To Be Demand For A Product? The demand for a good or service depends on two factors: (1) its utility to satisfy a want or need, and (2) the consumer’s ability to pay for the good or service. In effect, real demand is when the readiness to

What Does It Mean When You Have Demand For A Good Or Service?

January 24, 2024 by Ahmed Ali

What Does It Mean When You Have Demand For A Good Or Service? Demand is an economic principle referring to a consumer’s desire to purchase goods and services and willingness to pay a price for a specific good or service. Holding all other factors constant, an increase in the price of a good or service