Demand
Concept in economics / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Market demand?
Summarize this article for a 10 year old
SHOW ALL QUESTIONS
For other uses, see Demand (disambiguation).
In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time.[1][2] In economics "demand" for a commodity is not the same thing as "desire" for it. It refers to both the desire to purchase and the ability to pay for a commodity.[2]
This article needs additional citations for verification. (January 2020) |
Demand is always expressed in relation to a particular price and a particular time period since demand is a flow concept. Flow is any variable which is expressed per unit of time. Demand thus does not refer to a single isolated purchase, but a continuous flow of purchases.[2]