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DEAMAND
Meaning and Definition of Demand:
The word ‘demand’is so common and familiar with every one of us that seems superfluous too define it. The need for precise definition arises simply because it is sometimes confused with other words such as desire, wish, want,etc.
Demand in economics means a desire to possess a good supported by willingness and ability to pay for it. If you have a desire to buy means to pay for it, it will simply be a wish,i.e., a desire which is backed by willingness and ability to pay for a commodity in order to obtain it. In the words of prof. Hibdon:
Demand means the various quantities of goods that’s would be purchased per time period at different prices in a given market”.