What refers to the need, want or desire for a product backed by the money to purchase it? A. Supply B. Demand C. Product D. Good

Supply
Demand
Product
Good

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.

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