What is the simple meaning of demand?
Answer and explanation
Correct answer: Customers' desire for a product or service
In simple language, demand refers to customers' desire for a product or service. In economics, desire becomes effective demand when it is supported by willingness and ability to pay at a given price. Greater demand may create an opportunity for higher sales, though actual sales also depend on supply, price, and competition. The other options are unrelated, so A is correct.
Frequently asked questions
What is the correct answer to this question?
Customers' desire for a product or service
Why is this the correct answer?
In simple language, demand refers to customers' desire for a product or service. In economics, desire becomes effective demand when it is supported by willingness and ability to pay at a given price. Greater demand may create an opportunity for higher sales, though actual sales also depend on supply, price, and competition. The other options are unrelated, so A is correct.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Business, Trade and Commerce.
