Question

in economics desire backed by purchasing power in known as​

Answer 1

Answer:

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Desire backed by the ability to pay and willingness to buy that commodity is called demand.

Answer 2

Answer:

In economics, desire backed by purchasing power is known as Demand.

Explanation:

Demand alludes to the craving to have a product supported by eagerness and capacity to buy that item at given cost during a timeframe.

Desire(Want) basically alludes to the simple wish of an individual to have a specific product.