8. What is demand?

A. Consumers buying more of a good when its price decreases and less when it increases.

B. A graphic representation of a demand schedule.

C. A table that lists the quantity of a good all consumers in a market will buy.

D. The desire to own something and the ability to pay for it.

Demand in economics refers to the desire to own something combined with the ability to obtain it. The law of demand states that consumers will buy more of a good when its price decreases and less when its price increases. A demand curve is a graphical representation of the relationship between the price of a product and the quantity consumers are willing to buy.

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8. What is demand?A. Consumers buying more of a good when its price decreases and less when it increases.B. A graphic representation of a demand schedule.C. A table that lists the quantity of a good all consumers in a market will buy.D. The desire to own something and the ability to pay for it.

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