Question

The quantity demanded of a good is the amount that buyers are a. willing to purchase. b. willing and able to purchase. c. willing, able, and need to purchase. d. able to purchase.

Answer 1

Answer:

b. willing and able to purchase.

Explanation:

The quantity demanded of a good is the amount that buyers are willing and able to purchase at a given price.

Usually the quantity demanded increases as price decreases. This is in line with the law of demand which says, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. This is why the demand curve is downward sloping.

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