Difference between revisions of "Demand"
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The demand for a [[Widget|widget]] at a given price, is how many (or how much) of that widget people will want to buy at that price. If demand at a price exceeds [[Supply|supply]], there will be a [[Shortage|shortage]]. If supply exceeds demand there will be an [[Oversupply|oversupply]]. | The demand for a [[Widget|widget]] at a given price, is how many (or how much) of that widget people will want to buy at that price. If demand at a price exceeds [[Supply|supply]], there will be a [[Shortage|shortage]]. If supply exceeds demand there will be an [[Oversupply|oversupply]]. | ||
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Revision as of 10:14, March 11, 2007
The demand for a widget at a given price, is how many (or how much) of that widget people will want to buy at that price. If demand at a price exceeds supply, there will be a shortage. If supply exceeds demand there will be an oversupply.