Which of the following is true about demand?
A) Demand reflects the desire for a good but not necessarily the ability to buy it.
B) In order to demand a good,a person must be willing and able to buy the good.
C) When drawing a demand curve,influences such as price do not change.
D) Demand reflects the ability to buy a good but not necessarily the desire to do so.

Question

Quizplus · Accepted Answer

Demand refers to the willingness and ability of buyers to purchase a good or service at a given price. Therefore, option B is correct as it reflects that a person must be willing and able to buy a good to demand it. Option A and D are incorrect as they only consider desire or ability, respectively, and not both. Option C is also incorrect as influences such as price do affect the demand curve.

Which of the Following Is True About Demand