Question

    The demand in economics

    means:
    A aggregate demand Correct Answer Incorrect Answer
    B market demand Correct Answer Incorrect Answer
    C individual demand Correct Answer Incorrect Answer
    D demand backed by purchasing power Correct Answer Incorrect Answer

    Solution

    In economics, demand refers to the desire for a good or service combined with the ability to purchase that good or service. This is often called effective demand. The key element of demand is the purchasing power, meaning the consumer must not only want a good but also have the financial means to buy it. Thus, the correct answer is (d) demand backed by purchasing power.

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