Home
Class 14
GENERAL KNOWLEDGE
For economists, refers to the amount of...

For economists, ______ refers to the amount of a product or service that people are both willing and able to buy.

A

Demand

B

Supply

C

Price

D

Income

Text Solution

Verified by Experts

The correct Answer is:
A
According to Economics demand refers to the willingness to purchase , ability to pay and willingness to pay. A consumer may be able to differentiate between a need and a want, but from an economist.s perspective they are the same thing.
Promotional Banner

Topper's Solved these Questions

  • ECONOMICS

    PINNACLE|Exercise MCQ (COSTS, PRODUCTION,CONSUMPTIONS AND MARKET)|20 Videos

  • ECONOMICS

    PINNACLE|Exercise MCQ (NATIONAL INCOME, IFLATION, BUDGET, TAXATION AND GDP)|115 Videos

  • ECONOMICS

    PINNACLE|Exercise MCQ (MISCELLANEOUS)|54 Videos

  • CURRENT AFFAIRS

    PINNACLE|Exercise SCHEMES & PROJECTS|40 Videos

  • GEOGRAPHY

    PINNACLE|Exercise WORLD GEOGRAPHY AND MAP|3 Videos