asked 3.8k views
5 votes
How much people want a certain item is called what???

Supply
Demand
Competition
Free enterprise

2 Answers

5 votes

demand

your welcome

i had this on my test the other day


answered
User Anita Fronczak
by
8.2k points
5 votes

Answer:

The correct answer would be B, Demand.

Step-by-step explanation:

Demand is a basic concept in the field of economics. In simple words, when people want something so much that they are willing to pay a price for that, it is called as Demand. In economic terms, Demand is the quantity of a product that consumers are willing to purchase at a certain price during a period of time, and also they are able to pay for that product. There is a direct relationship of the product demanded and the price of that product. When demand for a certain product increases, the price of that product also increases and vice versa. The concepts of supply, demand, price are interrelated, either directly or indirectly.

answered
User Genoveva
by
7.5k points

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