Ask Question
BusinessBusiness
21 November, 09:40

In economics, the demand for a good refers to the amount of the good that people:

a. would like to have if the good were free.

b. will buy at various prices.

c. need to achieve a minimum standard of living.

d. will buy at alternative income levels.

+3
Answers (1)
  1. 21 November, 10:01
    0
    b. will buy at various prices.

    Explanation:

    In economics, demand refers to the quantity of a product that buyers are willing and able to buy at a specific price or different prices. For demand to exist, buyers must not only be willing to purchase but must have the financial resources to buy.

    Several factors, such as price, customer preferences, and market news, may influence the demand for a product. As per the law of demand, an indirect relationship exists between price and quantity demanded. An increase in price leads to a decline in demand. Changes in prices and preferences or related goods also affect the demand for a product.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “In economics, the demand for a good refers to the amount of the good that people: a. would like to have if the good were free. b. will buy ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
True or False: The basic economic theory of supply and demand suggests that when price drops, consumers will buy more and thus generate stronger demand.
Answers (1)
What downsides might brazil experience by implementing quotas, tariffs, and measures to devalue its currency
Answers (1)
Using the following account balances for Garry's Tree Service, prepare a trial balance. If an amount box does not require an entry, leave it blank.
Answers (1)
Harmark has three product lines in its retail stores: kites, wind socks, and flags. Results of the fourth quarter are presented below: Kites Wind Socks Flags Total Units sold 1,000 2,000 2,000 5,000 Revenue $ 22,000 $ 40,000 $ 23,000 $ 85,000
Answers (2)
The distribution of income for Dismal is as follows: Number of Families Income 1,000 less than $10,000 2,000 between $10,000 and $20,000 2,000 between $20,000 and $30,000 800 between $30,000 and $40,000 200 over $40,000 If the poverty rate in Dismal
Answers (1)
New Questions in Business
That the total dollar amount of the debits equals the total dollar amount of the credits in the ledger accounts can be verified through a (n) a. balance sheet b. trial balance c. chart of accounts d. income statement
Answers (1)
Coronado Shoes Fool Inc. is involved in litigation regarding a faulty product sold in a prior year. The company has consulted with its attorney and determined that it is possible that they may lose the case.
Answers (1)
Suppose during 2014 that Federal Express reported the following information (in millions) : net sales of $35,497 and net income of $98.
Answers (2)
During a certain four-year period, the consumer price index (CPI) increased by 30%, but during the next four-year period, it increased by only 10%. Which of these conditions must have existed during the second four-year period? A. Deflation B.
Answers (2)
Flagstaff Company has budgeted production units of 7,900 for July and 8,100 for August. The direct materials requirement per unit is 2 ounces (oz.).
Answers (1)
Home » Business » In economics, the demand for a good refers to the amount of the good that people: a. would like to have if the good were free. b. will buy at various prices. c. need to achieve a minimum standard of living. d. will buy at alternative income levels.
Sign Up Forgot Password?