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Sagot :
Simply said, demand is the amount of a good or service that consumers are willing and able to purchase at a specific price within a specific time frame. In an economy, people purchase commodities and services to fulfil their needs for things like food, medical care, clothing, entertainment, shelter, etc.
One of the fundamental concepts in microeconomics is the notion of demand. It seeks to address fundamental issues such as how desperately people desire goods and how pleasure and income levels affect demand (utility). Companies change the supply they offer and the pricing they charge based on how useful consumers view the commodities and services to be.
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