Demand in general terminology and demand in economic development explain?
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Demand in general terminology or its dictionary meaning, refers to, a firm request made, as a right.
Demand in economic and business terms however varies. Demand is one of the important aspects in determining the equilibrium in the market. The forces of demand and supply play a very important role.
Demand, in economic terms, refers to, the willingness and ability of a consumer to purchase a good or service.
It is the demand of not just one person, but an overall market demand is calculated.
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