DEMAND

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Title: DEMAND

Essay Details:

Subject: Business

Author: Mildred M

Date: February 24, 2011

Level: University

Grade: A

Length: 11 / 3085

Essay text:

For example, part of the book market now exists on the Internet. DEFINITION:- In economics demand is not the same thing as desire, or need, or want. This is because the strength of the desire for something will not, in itself, have any influence on the price of the item. Only when desire is supported by the ability and willingness to pay the price does it become an effective demand and have an influence on the market. Demand, in economics, means effective demand and may be defined as ‘the quantity of the commodity which will be demanded at any given price over some given period of time.’ INDIVIDUAL AND MARKET DEMAND:- For the great majority of goods and services, experience shows that the quantity demanded will increase as the price falls...

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