In economics, demand is an economic principle that describes a consumer's desire and willingness to pay a price for a specific good or service. Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. (see also supply and demand). The term demand signifies the ability or the willingness to buy a particular commodity at a given point of time.
Read more about Demand: Introduction, Factors Affecting Demand, Demand Function and Demand Equation, Demand Curve, Income and Substitution Effects, Discrete Goods, Movements Versus Shifts, From Individual To Market Demand Curve, Price Elasticity of Demand (PED), Market Structure and The Demand Curve, Inverse Demand Function, Residual Demand Curve, Is The Demand Curve For PC Firm Really Flat?, Demand Management in Economics, Different Types of Demand Situations
Other articles related to "demand, quantity":
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... all the goods and services sold during the year Q is the quantity of assets, goods and services sold during the year In mathematical terms, this equation is really an identity ... Some adherents of the quantity theory of money assume that the velocity of money is stable and predictable, being determined mostly by financial institutions ... Most macroeconomists replace the equation of exchange with equations for the demand for money which describe more regular and predictable economic behavior ...
Famous quotes containing the words quantity and/or demand:
“All things will be produced in superior quantity and quality, and with greater ease, when each man works at a single occupation, in accordance with his natural gifts, and at the right moment, without meddling with anything else.”
—Plato (c. 427347 B.C.)
“... a large portion of those who demand woman suffrage are persons who have not been trained to reason, and are chiefly guided by their generous sensibilities.”
—Catherine E. Beecher (18001878)