In Economics, the Meaning of Demand Refers to

question 37

Multiple Choice

In economics, the meaning of demand refers to

• A) how badly someone wants a good.
• B) the quantities of a good that people will buy at various prices.
• C) the quantities of a good that people will sell at various prices.
• D) the total satisfaction that consuming a good provides people at different prices.

---

Definitions:

Probability

A calculation of the chance of a certain event taking place, denoted by a number between 0 and 1.

Cards

Paper or plastic rectangular pieces, often used for playing a variety of games, or as a medium for storing information such as identification or banking details.

Fair Die

A fair die is a dice designed to have equal likelihoods of landing on any of its faces when thrown.

Events

Occurrences or happenings, especially significant ones within a specified area or context.