Answer to Question #137357 in Economics for Adi Baitassov

Question

Quantity demanded refers to the

Answer 1

Quantity demanded is the quantity of a commodity that people are willing to buy at a particular price at a particular point of time.

Different quantities can be demanded at different prices at a particular point of time. When all the prices, along with quantity demanded, are drawn on a graph, the demand curve is formed. Quantity demanded can change at the same price depending upon factors like recession, changes in the taste of the consumer, etc.