____________ refers to a desire backed by the ability to pay and willingness to buy that commodity.

Demand

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Supply

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Value

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Price

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Solution

The correct option is C Demand
Desire backed by the ability to pay and willingness to buy that commodity is called demand. Production and price of a commodity depends on the demand of that good.

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____________ refers to a desire backed by the ability to pay and willingness to buy that commodity.

The correct option is C DemandDesire backed by the ability to pay and willingness to buy that commodity is called demand. Production and price of a commodity depends on the demand of that good.

The correct option is C Demand
Desire backed by the ability to pay and willingness to buy that commodity is called demand. Production and price of a commodity depends on the demand of that good.