Homework Soursewhat is demandSolutionDemand is the quantity that a consumer
what is demand
Solution
Demand is the quantity that a consumer is willing ot buy at a given price for a given period of time.
Three components of demand:
a given price
Qantity
period of time
In other words, it is the desire that is backed by purchasing power and willingness to spend that purchasing power.
Three components:
Desire
Purchasing power
willingness to spend purchasing power.
