Question

what is demand?

Answer 1

Demand is the name given to the phenomenon of people being willing to pay a certain price to receive a certain amount of goods. With no demand - nobody can sell any of their good. With high demand - they can sell either a lot of goods, or a few goods at a high price.

Hope this helps

Answer 2

demand is a situation where people are willing to pay for a product at a particular price. If the price is high, demand is low and vice versa. Remember the concept "PEOPLE RESPOND TO INCENTIVES"

Answer 3

Demand is the ability,willingness and promptness of a consumer to buy the given product at the given price.