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.
Famous quotes containing the word demand:
“It is characteristic of the epistemological tradition to present us with partial scenarios and then to demand whole or categorical answers as it were.”
—Avrum Stroll (b. 1921)
“... the self respect of individuals ought to make them demand of their leaders conformity with an agreed-upon code of ethics and moral conduct.”
—Mary Barnett Gilson (1877–?)
“We are well advised to keep on nodding terms with the people we used to be, whether we find them attractive company or not. Otherwise they turn up unannounced and surprise us, come hammering on the mind’s door at 4am of a bad night and demand to know who deserted them, who betrayed them, who is going to make amends. We forget all too soon the things we thought we could never forget.”
—Joan Didion (b. 1934)