Which Concept Represents the Quantity of a Good or Service

question 16

Multiple Choice

Which concept represents the quantity of a good or service that people are willing to buy at various prices?

• A) demand
• B) market potential
• C) supply
• D) market share

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Definitions:

Infants

Legally refers to individuals who are under the age of majority, typically considered to be 18 years in many jurisdictions, and who are thus limited in their ability to enter into contracts.

Minors

Individuals under the age of legal adulthood, which varies by country, typically recognized as under 18 or 21 years old.

Necessary

Something that is essential or required in a particular situation or for achieving a specific outcome.

Necessaries

That which is reasonably necessary for a minor’s proper and suitable maintenance, in view of the income level and social position of the minor’s family.