Define Demand.

Question

Define Demand.

Accepted Answer

Demand for a commodity is the quantity of it that a consumer is both willing to buy and able to pay for, at a given price, during a given period of time. Three conditions must hold together: a genuine desire for the good, willingness to spend money on it, and the actual purchasing power (ability to pay) to back that willingness up. A desire without purchasing power — wanting a good one cannot afford — never becomes demand in the economic sense; it remains a mere wish. Demand is also always tied to a specific price and a specific time period — a quantity figure stated without both is not meaningful demand data.

✓Final answer

Demand is the quantity of a commodity a consumer is willing to buy and has the purchasing power to pay for, at a given price, during a given period of time.

Same / Similar Concept — real previous-year questions on the same or a closely similar concept, not this exact question.

CBSE 2026Set ANNUAL1 mark
$Q. Find the odd word: Determinants of demand: Income, Cost of production, Size of population, Price$
›Reveal solutionSolution
Odd word = Cost of production.

The determinants of demand are the factors that influence how much of a good consumers wish to buy:

Price of the commodity itself.

Income of the consumer.

Size of population (more people, more demand).

Cost of production affects how much producers are willing and able to supply, not how much buyers demand, so it is a determinant of supply — making it the odd word.

✓Final answer
$Odd word: Cost of production .$
CBSE 2025Set ANNUAL1 mark
$Q. Give an economic term: A desire which is backed by willingness to purchase and ability to pay.$
›Reveal solutionSolution

The economic term is Demand.

A plain desire or wish for a good is not 'demand' in economics. Demand exists only when three things come together: a desire for the commodity, the willingness to buy it, and the ability to pay its price. If any one is missing — for example, a poor person wanting a car has the desire but no purchasing power — it stays a mere want, not demand. Demand is always stated with reference to a particular price and a particular period of time.

✓Final answer
$Demand — a desire for a commodity backed by willingness to purchase and the ability to pay for it.$
CBSE 2023Set ANNUAL1 mark
$Q. Give an economic term: A desire which is backed by willingness to purchase and ability to pay.$
›Reveal solutionSolution
The term described is Demand — a desire for a commodity supported by both the willingness to buy it and the ability to pay for it.

A plain wish for a good is only a desire or want. Economics treats it as demand only when three conditions are met together:

Desire for the commodity,

Willingness to purchase it, and

Ability to pay (purchasing power) at the given price.

When all three combine, the want becomes effective demand — the quantity a consumer is willing and able to buy at a given price and time.

✓Final answer
$Economic term: Demand .$

> [!ANSWER]
> Demand is the quantity of a commodity a consumer is willing to buy and has the purchasing power to pay for, at a given price, during a given period of time.

Q.Define Demand.

Concept understanding — Meaning, Determinants and the Demand Function

Q.Define Demand.

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