Definition: Market demand describes the demand for a given product and who wants to purchase it. This is determined by how willing consumers are to spend a certain price on a particular good or service. As market demand increases, so does price. When the demand decreases, price will go down as well.
Market demand is the aggregate of the individual demands for a commodity from purchasers in the marketplace. If more purchasers enter the marketplace and they have the capability to pay for commodities on sale, then the market demand at each cost price degree will increase.
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Explanation:
Definition: Market demand describes the demand for a given product and who wants to purchase it. This is determined by how willing consumers are to spend a certain price on a particular good or service. As market demand increases, so does price. When the demand decreases, price will go down as well.
Verified answer
Market demand is the aggregate of the individual demands for a commodity from purchasers in the marketplace. If more purchasers enter the marketplace and they have the capability to pay for commodities on sale, then the market demand at each cost price degree will increase.
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