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Jun 20, 2024 · Demand is the quantity of a good or service that consumers are willing to buy at different prices. Learn how demand is affected by various factors, how it is measured by a demand curve, and how it relates to supply and elasticity.
Demand is the amount of a good or service consumers are willing and able to buy at each price. Learn how to create and interpret a demand curve, and what factors affect demand, using gasoline as an example.
Learn the definition of demand, the law of demand, and the factors that influence demand in a market. See graphs, examples, and key terms related to demand and its determinants.
Learn how economists define and measure the quantity demanded of a good or service at different prices and other factors. Explore the concepts of demand schedule, demand curve, and demand shifters with examples and diagrams.
Learn how the law of demand states that the quantity demanded of a product varies inversely with its price, and see an example of a demand schedule and curve. Watch a video by Sal Khan and read comments and questions from other learners.
Learn how the law of demand states that a higher price leads to a lower quantity demanded and vice versa. See examples of demand schedules and curves for gasoline and other goods and services.
Demand for Goods and Services. Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price.Demand is based on needs and wants—a consumer may be able to differentiate between a need and a want, but from an economist’s perspective, they are the same thing.
