. Demand for a commodity refers to


A: amount of the commodity demanded at a particular price and at a particular time

B: need for the commodity

C: quantity demanded of that commodity

D: desire for the commodity

 

Best Answer

Explanation:

  • Demand for a commodity refers to the desire to buy that particular product, which is backed by the purchasing power and the consumer is ready to spend the amount to purchase the product.
  • The law of demand states that when the price of a good increases, the demand of the good will decrease and vice versa.
  • Demand encourages production and leads to the development of the economy.

Correct Option is: (A)

Amount of the commodity demanded at a particular price and at a particular time.

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