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Question
What is demand?
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Solution
Demand is an economic principle that describes a consumer's
desire and willingness to pay a price for a specific good or service. Holding
all other factors constant, an increase in the price of a good or service will
decrease demand, and vice versa.
Demand is an economic principle that describes a consumer's
desire and willingness to pay a price for a specific good or service. Holding
all other factors constant, an increase in the price of a good or service will
decrease demand, and vice versa.
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