In Economics,the Term "Demand" Refers to

question 69

Multiple Choice

In economics,the term "demand" refers to

• A)the quantity of a good or service that people will buy at a particular price.
• B)the intensity of desire for a good or service.
• C)the quantity of a good or service that people want to consume.
• D)the quantities of a good or service people would be willing and able to buy at various prices.

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Definitions:

Sample Mean

The average value of a sample set of numbers.

Freshmen

First-year students in a secondary or post-secondary educational institution.

Probability

The evaluation of how probable an event is, shown as a numerical value between 0 and 1, where 0 stands for the event being impossible and 1 representing absolute certainty of the event occurring.

Sample Mean

The sample mean is the average value of a sample set of numbers, calculated by dividing the sum of all values in the sample by the number of values.