What refers to the quantity of goods and services that consumers are willing to buy at a given price? ______ refers to the quantity of goods and services that consumers are willing to buy at a given price.
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Supply refers to the quantity of goods and services that consumers are willing to buy at a given price.
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Demand refers to any quantity of goods and services that consumers are willing to buy at a given price.
- There are customers and sellers in a market and the customers demand the services and products sold by the sellers.
- These are the goods that constitute the wants or needs of the customer.
- So, the customer willingly pays a specified price for those goods or services.
- This demand for goods and their price varies inversely with one another.
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