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Question
Any statement above demand for a good is considered complete only when the following is/are mentioned in it. ( choose the correct alternative)
a) Price of the good
b) Quantity of good
c) Period of time
d) All of the above
Solution
All of the above
Demand is the quantity which a consumer is willing and able to purchase at each possible price during a given period of time. So, the demand for a good is considered correct with four essential items i.e. the quantity of the commodity, willingness to purchase, the price of the commodity and period of time.
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