Question

When companies measure the number of people who are willing and able to buy their products, they are measuring ________.

1) demand
2) price elasticity
3) real needs
4) standard of living
5) disposable income

Answer 1

When companies measure the number of people who are willing and able to buy their products, they are measuring 1) Demand.

Step-by-step explanation:

When companies measure the number of people who are willing and able to buy their products, they are measuring 1) Demand.

When companies measure the number of people who are willing and able to buy their products, they are essentially measuring demand. Demand represents the quantity of a good or service that consumers are willing and able to purchase at various prices and within a given period. Understanding and analyzing demand is crucial for businesses in determining how much of a product or service they can sell in the market. This information helps companies make informed decisions about pricing, production, and marketing strategies. Therefore, the correct term for measuring the number of potential buyers is "demand."