Ask Question
BusinessBusiness
20 January, 15:22

In economics, the demand for a good refers to the amount of the good that people:

a. would like to have if the good were free.

b. will buy at various prices.

c. need to achieve a minimum standard of living.

d. will buy at alternative income levels.

+3
Answers (1)
  1. 20 January, 19:05
    0
    b. will buy at various prices.

    Explanation:

    In economics, demand refers to the quantity of a product that buyers are willing and able to buy at a specific price or different prices. For demand to exist, buyers must not only be willing to purchase but must have the financial resources to buy.

    Several factors, such as price, customer preferences, and market news, may influence the demand for a product. As per the law of demand, an indirect relationship exists between price and quantity demanded. An increase in price leads to a decline in demand. Changes in prices and preferences or related goods also affect the demand for a product.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “In economics, the demand for a good refers to the amount of the good that people: a. would like to have if the good were free. b. will buy ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
What is the responsibility of judges when their personal opinions are in conflict with the rule of law in the case before them?
Answers (1)
Which of the following government actions is an example of contractionary policy? Cutting taxes Raising taxes Increasing government spending None of the above
Answers (1)
Why does the loyalist believe separation from england would be disastrous for business?
Answers (1)
What is the difference between Nepalese microeconomics and macroeconomics?
Answers (1)
What is an assessment of what you own and what you owe? Personal balance statement Cash flow statement Budget statement Liability statement
Answers (1)
New Questions in Business
Economists consider governments to be "wasteful:" - whenever they over - or underallocate resources to a project. - only when they overallocate resources to a project. - only when they underallocate resources to a project.
Answers (1)
Sheila went to college to study accounting, and got her first entry-level job right after graduating. however, as she gained more experience at the law firm where she worked, she became more knowledgeable about tax law and decided to make a
Answers (1)
The following information pertains to Oro Corp.: Credit sales for the year ended December 31 $450,000 Credit balance in allowance for uncollectible accounts at January 1 10,800 Bad debts written off during the year 18,000 According to past
Answers (1)
A factory has added a new incentive program to encourage employees to use payroll deductions to contribute to their 401K retirement account. The company will now contribute funds based on the employee deduction amount.
Answers (1)
An electronics firm sells four models of stereo receivers, three amplifiers, and six speaker brands. When the three types of components are sold together, they form a "system." How many different systems can the electronics firm offer?
Answers (1)
Home » Business » In economics, the demand for a good refers to the amount of the good that people: a. would like to have if the good were free. b. will buy at various prices. c. need to achieve a minimum standard of living. d. will buy at alternative income levels.
Sign Up Forgot Password?