define demand? what is market demand
Answers
Demand: Demand in economics is the consumer's desire and ability to purchase a good or service. It's the underlying force that drives economic growth and expansion. Without demand, no business would ever bother producing anything.
Market demand: Market demand is the total amount of goods and services that all consumers are willing and able to purchase at a specific price in a marketplace. In other words, it represents how much consumers can and will buy from suppliers at a given price level in a market.
Answer:
Demand
Demand is defined as the quantities of a commodity that the consumers are willing and able to purchase at various possible prices during a particular period of time.
Market Demand
Market Demand refers to the all (or total) quantities of a Commodity that is Demanded by all households (or all the individuals) during a particular period of time.
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