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Question
Demand of several consumers is called _____ demand.
Demand of several consumers is called _____ demand.
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Solution
The correct option is B market
Market demand is nothing but the total amount of goods and services that all consumers are willing and able to purchase at a specific price in a market place. Hence, demand of several consumers is called market demand.
Market demand is nothing but the total amount of goods and services that all consumers are willing and able to purchase at a specific price in a market place. Hence, demand of several consumers is called market demand.
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