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378

Q:

What is the meaning of demand in economics?

  • 1
    Aggregate/aggregate demand
  • 2
    Market demand
  • 3
    Individual demand
  • 4
    Demand based on purchasing power
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Answer : 4. "Demand based on purchasing power"
Explanation :

Demand is an economic concept that relates to a consumer's desire to purchase goods and services and willingness to pay a specific price for them. An increase in the price of a good or service tends to decrease the quantity demanded.

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