Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Theory of Consumer behaviour

Question:

The quantity of a commodity that a consumer is willing to buy and is able to afford, given prices of goods and income of the consumer, is called _______ for that commodity.

Which of the following options suits best for the above blank?

Options:

Supply

Competition

Demand

None of above

Correct Answer:

Demand

Explanation:

Demand is defined as the quantity of a commodity that a consumer is willing and able to buy, given prices of goods and income of the consumer.