In Economic Theory, the Word "Demand" Refers to

question 70

Multiple Choice

In economic theory, the word "demand" refers to

• A) the amount people are willing to purchase at various prices.
• B) those wants or needs that are urgent or pressing.
• C) wants that are economic in character rather than social, cultural, or spiritual.
• D) the desire of persons for a good, regardless of whether they're willing to purchase the good.

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Definitions:

Homogeneous

Describing a group or set consisting of members or elements that are all of the same or a similar kind.

African American Families

Refers to the family structures, dynamics, and cultural heritage of individuals of African descent living in the United States.

White Families

Families identified or classifying themselves as belonging to the white racial group of people.

Maintained

Kept in an existing state or condition; preserved from failure or decline.