Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board
Chapter 3 -(A) Demand Analysis [Latest edition]
Q.2. Give economic term.
A desire which is backed by willingness to purchase and ability to pay _______.
A desire which is backed by willingness to purchase and ability to pay demand.
Explanation:
Demand: According to Benham, “the demand for anything at a given price is the amount of it, which will be bought per unit of time at that price.”
In ordinary language, demand means a desire.
Desire means an urge to have something. In Economics, demand means a desire which is backed by a willingness and ability to pay.
