Log in
Economics
4
answers
0
watching
139
views

The concept of demand is best described as:

A. The total satisfaction that consuming a good provides people at different prices.
B. The quantity of a good or service that people want to purchase at different prices.
C. The quantity of a good or service that people will offer for sale at different prices.

Watch
4
answers
0
watching
139
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Kristelle Balando
Kristelle BalandoLv10
29 Aug 2020
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

The demand schedule for a good show:
a. the specific quantity of the good that people are willing and able to sell at different prices.
b. the positive relationship between the price and the quantity of the good.
c. no relationship between the price and the quantity of the good.
d. the specific quantity of the good that people are willing and able to buy at different prices.

Which of the following describes the difference between "scarcity" and "shortage"?

A) There is no difference; either word can be used to describe the situation that exists when there is less of a good or service available than people want.

B) There is a shortage of almost everything. Scarcity occurs only if the quantity demanded of a good or service is greater than the quantity supplied at the current market price.

C) There is a scarcity of almost everything. Shortage occurs only if the quantity demanded of a good or service is greater than the quantity supplied at the current market price.

D) There is a scarcity of almost everything. Shortage occurs only if the quantity demanded of a good or service is greater than the quantity supplied at the equilibrium price.

According to the law of demand, what will happen as the price of a good or service decreases?

Ā 

a. The demand for that good or service will decrease.

b. The demand for that good or service will increase.

c. The quantity demanded for that good or service will decrease.

d. The quantity demanded for that good or service will increase.

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in