In economics, the demand for a good refers to the amount of the good people a. would like to have if the good were free. b. are willing to buy at various prices. c. need to achieve a minimum standard of living. d. will buy at alternative income levels.

Question

Jenny Conley

Business

9 April, 03:36

In economics, the demand for a good refers to the amount of the good people a. would like to have if the good were free. b. are willing to buy at various prices. c. need to achieve a minimum standard of living. d. will buy at alternative income levels.

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Kenneth Guerra · Answer 1

b. are willing to buy at various prices.

Explanation:

The demand of good in economics is clearly the goods that people want and are ready to pay different prices for such goods.

The goods are valuable to different people depending upon their different needs and shall be of different satisfaction to different people.

People will pay for the good according to the capacity and need.

The demand of goods does not mean the number of goods to be bought when can be received free of cost. This is because that might include the un-necessary wants of a person, but not the real demand.