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
What brief document should always include the six basic story elements? Flyers Press releases Website home pages Business cards
Answers (2)
Payment types that require you to pay upfront
Answers (1)
Miguel is 18, and he wants to buy a car in the next few months. What type of financial planning should he do to ensure that he meets his goal? A item branding B short term C distance satisfaction D consumer behavior
Answers (1)
A revenue management (RM) system for an airline seeks to minimize each customer's ticket price of travel on the airline's flights. True False
Answers (1)
In monopolistic competition, which of the following would make an individual firm's demand curve less elastic?
Answers (1)
New Questions in Business
A hyperlink: A. can tell you if the battery on your laptop is running low. B. can take the user to an external Internet site. C. can run the grammar check function. D. can spell check your slide presentation.
Answers (1)
Choose all that apply. Select sources of income. A) interest deposited into your savings account B) wages from your job C) commission for a sale D) a rent check from someone renting a property you own
Answers (2)
A company has two departments and allocates all overhead costs based on department revenues. The following information applies: Department 1 revenue $1,000,000 Department 2 revenue 1,500,000 Corporate overhead costs 250,000 Department overhead costs
Answers (1)
The most useful allocation basis for the departmental costs of an advertising campaign for a storewide sale is likely to be: Multiple Choice An equal amount of cost for each department. Number of customers to enter each department.
Answers (1)
What happens when a bond becomes due? A The issuer will pay you back, minus interest. B The issuer will pay you back, plus interest. C You pay it back to the issuer, plus interest. D You pay it back to the issuer, minus interest.
Answers (2)
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?