Pancyprian Economics Practice Questions - Cyprus Pancyprian Access Examination Economics (ΟΙΚΟΝΟΜΙΚΑ, Code 024) Exam

In economics, 'demand' for a good is best defined as:

The total quantity of the good that producers offer for sale at various prices The quantities of the good that consumers are willing and able to buy at various prices over a given period The quantity of the good that consumers actually purchase at the prevailing market price The desire consumers feel for the good, regardless of their ability to pay for it

Correct Answer:

The quantities of the good that consumers are willing and able to buy at various prices over a given period

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