Demand = Desire + _ + ___.

Ability to pay, willingness to buy

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Ability to pay, unwilling to buy

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Inability to pay, willingness to buy

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None of the above

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Solution

The correct option is A Ability to pay, willingness to buy

“Demand means effective desire or want for a commodity, which is backed by the ability (i.e., money or purchasing power) and willingness to pay for it.” That is one should have the desire and capacity to buy a commodity and should be willing to pay its price to constitute effective demand for that commodity.

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