Multiple Choice Questions on Demand for a commodity refers to ........ for Punjab Government (Allied) Exams Preparation

Demand and Supply , Market Structures

Economics

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Indian Economy - Understanding the basics of Indian economic system

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    Demand for a commodity refers to

    Desire for the commodity

    Incorrect Answer

    Need for the commodity

    Incorrect Answer

    Quantity demanded of that commodity

    Incorrect Answer

    Quantity of the commodity demanded at a certain price during any particular period of time.

    Correct Answer

    All of the above

    Incorrect Answer
    Explanation:

    The demand for a commodity refers to the amount of it which will be bought per unit of time at a particular price. Demand for a commodity may be viewed as ex-ante; i.e., intended demand or ex-post i.e., what is already purchased. Quantity of the commodity demanded at a certain price during any particular period of time.


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