Demand of a commodity mainly depends upon which of the following?

Willingness to pay

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Ability to pay

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Both A and B

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

None of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A Both A and B
Effective demand is described as the ability and willingness to pay for a commodity. If either of these requirement is not met then it is not considered as demand for the product.

Suggest Corrections

Similar questions

When the demand for a commodity depends on the effect of a change in the price of a related commodity, it is called

The ability of an ion to bring about coagulation of a given colloid depends

upon

Join BYJU'S Learning Program