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QUESTION IMAGE

multiple-choice question what are the two components of demand? willing…

Question

multiple-choice question
what are the two components of demand?
willingness to purchase and ability to pay
wanting something and getting it
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Explanation:

Brief Explanations

In economics, demand is defined as a consumer's desire for a good or service combined with the financial means to acquire it. The first option aligns with this formal definition, while the second option is an informal, inaccurate description that does not reflect the economic concept of demand.

Answer:

Willingness to purchase and ability to pay