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Question 1: What is wrong with the statement: Demand refers to the willingness of buyers to purchase different quantities of a good at different prices during a specific time period: Instead of “demand”, it should be “quantity demanded”. Instead of “willingness”, it should be “ability”. Demand refers to the willingness and ability of buyers, not just willingness. There is nothing wrong with the statement.



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Shancaidivin56

Answer:

The statement has a couple of inaccuracies:

- Instead of "Demand", it should be "Quantity Demanded".

- Instead of "Willingness", it should be "Ability".

- Demand refers to both the willingness and ability of buyers, not just willingness.

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