In ordinary language demand is just like an desire but in economics its not only a desire, one should have desire and willingness to buy with financial potentiality.
Economic decisions are based on supply and demand. A+
The Price of a good or service is detrimend by consumer demand
The three key economic decision of every economic system are price, how much to produce, and where to sell the product. This follows the principles of the laws of supply and demand.
The importance of an economic system is that the economic system runs the civilization. This system forms the civilization and shows what people value. This helps decide what should be produced,how much something is worth, and keeps business at a supply and demand routine. Hope my answer helped :) Peace!
Price or market system
Economic decisions are based on supply and demand. A+
what is economic system
A market economy is an economic system in which the production of goods and services is determined by the demand from consumers. Prices are set by supply and demand in the market, and businesses respond to consumer preferences in order to maximize profit.
The Price of a good or service is detrimend by consumer demand
The three key economic decision of every economic system are price, how much to produce, and where to sell the product. This follows the principles of the laws of supply and demand.
A market-based economy.
The Australian Market system and basic economic concepts such as demand and supply.
The importance of an economic system is that the economic system runs the civilization. This system forms the civilization and shows what people value. This helps decide what should be produced,how much something is worth, and keeps business at a supply and demand routine. Hope my answer helped :) Peace!
Price or market system
free market economy
Industry demand is subject to genera economic conditions. Firm demand is determined by economic conditions and competition
The basic economic theory states that "When there is demand efforts will be made to satisfy this demand by virtue of supply." Now in an economic system the consumer dictates the demand and so the supply has to satisfy the demand.So the suppliers have to model their products and services which corresponds to demands of the consumers.