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.
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Famous quotes containing the word demand:
“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)
“Just as the performance of the vilest and most wicked deeds requires spirit and talent, so even the greatest demand a certain insensitivity which under other circumstances we would call stupidity.”
—G.C. (Georg Christoph)
“The pound of flesh which I demand of him
Is dearly bought as mine, and I will have it.”
—William Shakespeare (1564–1616)