Question : Commodity demand refers to:
Option 1:
Requirement for the commodity
Option 2: Want for the commodity
Option 3: Quantity of the commodity demanded at a specific price and at a specific time
Option 4: The quantity of that commodity demanded
Answer (1)
26th Jan, 2024
Correct Answer: Quantity of the commodity demanded at a specific price and at a specific time
Solution :
Commodity demand refers to the quantity of the commodity demanded at a specific price and at a specific time.
It means the total amount of a good or service that consumers demand over a given period of time. Quantity demanded depends on the price of a good or service in a marketplace.
Hence option c is the correct answer.
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