Question 1

How does a consumer know whether a purchase may be a good deal?

Accepted Answer

Consumers look at the prices in search of the best value for their money. Quality: The characteristics, lifespan, and overall performance are essential. Consumers are interested in ensuring that they purchase a quality product.

Question 2

When a consumer is able and willing to buy a good?

Accepted Answer

Demand is merely the amount of a merchandise or service people are ready and able to purchase at a specific price within a particular period. The wants of people in an economy are the demands for goods and services, such as food, healthcare, clothing, entertainment, and shelter.

Question 3

What consumers are willing and able to buy?

Accepted Answer

Economists define demand as the quantity of a specific good or service that people are willing and able to buy at a given price. A consumer can distinguish the difference between a need and a want, but to an economist, they are the same.

Author: Adnan

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