Question

When a want is supported by purchasing power it is called ?

Select one:

a. Demand

b. System

c. Supply

d. Resource​

Answer 1

Answer:

Option c is the answer.

Explanation:

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Answer 2

Answer:

When 'want' is supported by purchasing power, it is called demand.

Explanation:

Demand is described as a combination of one's want to have a commodity and their purchasing power.

Purchasing power is defined as the ability to have enough money to purchase a commodity.

Want is defined as the desire to have a commodity as well as the willingness to spend one's money to purchase the commodity.

Demand for a commodity is inversely related to the price of the commodity.