The horizontally oriented definition of DEMAND states that "demand is the quantitites of a good that buyers are willing and able to buy at various prices in a given time interval." Which of the following statements are TRUE? If I really like a good, it does not matter how much I am able to afford to spend on it. The demand for a good is a specific amount. Demand is a behavioral relationship expressing what quantities buyers would want and be able to buy at various prices. If I can't afford to buy a product at today's available prices, I do not have
The horizontally oriented definition of
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If I really like a good, it does not matter how much I am able to afford to spend on it. |
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The demand for a good is a specific amount. |
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Demand is a behavioral relationship expressing what quantities buyers would want and be able to buy at various prices. |
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If I can't afford to buy a product at today's available prices, I do not have a demand. |
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The demand is all the possible price quantity combinations |
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Demand depends on the availability of supply. |
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Demand is a relationship between price as a variable and quantity demanded as a variable. |
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Demand is a flow and requires a time interval be be fully understood. |
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