Question

In your own words, how do you define demand?​

Answer 1

Answer:

Demand is an economic principle referring to a consumer's desire to purchase goods and services 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 the quantity demanded, and vice versa.

Explanation:

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Answer 2

Answer:

Demand in my words :-

For example, if the price of a gallon of milk rose from $5 to a price of $15, this is a big price increase. This significant price increase causes the consumer to demand less of that product at the price of $15 because not only is it not expensive, but the new price is very unreasonable for a gallon of milk.