Quantity demanded is the amount of a good that buyers are willing and able to purchase at a given price.
What Is Quantity Demanded?
- The entire amount of an item or service that customers desire during a specific time period is referred to as the quantity demanded in economics.
- Regardless of whether a market is in equilibrium, it is dependent on the cost of an item or service.
- The quantity required is influenced by a product or service's pricing in the market.
- The law of demand states that there is an inverse connection between a product's price and its quantity demand.
- In economics, the word "quantity demanded" refers to the overall amount of an item or service that consumers demand over a specific period of time.
- Regardless of whether a market is in equilibrium, it is dependent on the cost of an item or service.
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