[amp_mcq option1=”Supply” option2=”Demand” option3=”Product” option4=”Good” correct=”option2″]
The correct answer is B. Demand.
Demand is the amount of a good or service that consumers are willing and able to purchase at various prices during a given period of time. It is a key concept in economics, and it is used to determine the price of goods and services.
Supply is the amount of a good or service that producers are willing and able to sell at various prices during a given period of time. It is also a key concept in economics, and it is used to determine the price of goods and services.
A product is a good or service that is produced for sale. It can be tangible, such as a car or a piece of clothing, or it can be intangible, such as a service such as a haircut or a financial consultation.
A good is a tangible product that can be used or consumed. It can be a physical object, such as a car or a piece of clothing, or it can be a natural resource, such as oil or water.
In the question, the need, want or desire for a product backed by the money to purchase it is referred to as demand. This is because demand is the amount of a good or service that consumers are willing and able to purchase at various prices during a given period of time. It is a key concept in economics, and it is used to determine the price of goods and services.