Demand

Question 1

What is demand?

Answer 1

A demand is a desire back by the ability to pay. Otherwise it is want

Question 2

What is the definition of demand?

Answer 2

Demand is the quantity of a good or service that consumers are both willing and able to buy at any given price over a period of time

Question 3

What is willing and able mean

Answer 3

Willing is you want to have it and able to have the money to purchase it. You will use the money to purchase it.

Willing is a want
Willing ia able to demand

Question 4

what is the definition of Demand Schedule?

Answer 4

A table that sets out the quantity of a good or service that a consumer is willing and able to buy at a range of prices within a given frame

Question 5

What is the definition of law of demand

Answer 5

An increase in the price of a good or service will result in a decrease in the quantity demand or vice versa assuming Ceteris Paribus

Question 6

What is the definition of Ceteris Paribus

Answer 6

all other factors apart from one stay the same

Question 7

what is a demand curve

Answer 7

A graph of quantity of a good or service that consumers are both willing and able to buy and any given price over a certain period of time