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:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“You are right to demand that an artist engage his work consciously, but you confuse two different things: solving the problem and correctly posing the question.”
—Anton Pavlovich Chekhov (1860–1904)
“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)