_____ refers to the quantity of a product that buyers are willing to purchase at various prices.
A) Equilibrium
B) Demand
C) Supply
D) Competition

Question

Quizplus · Accepted Answer

Demand refers to the amount of a product or service that individuals are willing and able to buy at different prices. It represents the relationship between price and quantity demanded, where higher prices typically result in lower demand and vice versa. Understanding demand is important for businesses in determining their pricing strategy, forecasting sales, and ultimately maximizing profits.

_____ Refers to the Quantity of a Product That Buyers