1. Demand
... . The key point is to distinguish between demand (the relationship) and quantity demanded. That distinction is important for microeconomics, although people often do not make it in ordinary discussion. Demand and Need To keep it simple, we may think of the buyers as consumers. Clearly, the buyers are the ... people who want or need the product or service -- but there is more to it than that. The word "demand" refers to the willingness and ability of people to ... experience living in the market economic system, and that makes economics seem like a common-sense field -- but sometimes tha...
- Word Count: 662
- Approx Pages: 3
- Grade Level: High School