Demand

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

Famous quotes containing the word demand:

    The sun is shining.
    The shadows of the lovers have disappeared.
    They are all eyes; they have some demand on me—
    They want me to be more serious than I want to be.
    Louis Simpson (b. 1923)

    The laws of custom make our [returning a visit] necessary. O how I hate this vile custom which obliges us to make slaves of ourselves! to sell the most precious property we boast, our time;—and to sacrifice it to every prattling impertinent who chooses to demand it!
    Frances Burney (1752–1840)

    You can’t stand up against me. You haven’t got the strength. You’ll do as I say. I demand that you give up this man. I demand that you send him away.
    Muriel Box (b. 1905)