Question

explain the concept of demand​

Answer 1

Answer:

Demand means the require of customer

the require means need and the customer is ready to buy a product on any cost.

ex.A customer need a tooth paste for use it's a demand.

but concept of the desire of customer is called demand because desire means a wish of customer he is not ready to buy the product at high cost.

ex; if person wish to buy a car but he have no budget then it's call desire not a demand.

demand including the rule of reverse concept.

"if prices increase then demand decrease when price decrease then demand increase"

ex ; the prices of tea increase to 2rs.and the coffee prices remains same then people demands increase for coffee.