Demand: meaning and example
English
Demand
The desire of consumers to buy a product or service.
“The demand for electric cars has surged due to growing environmental concerns.”
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More words from Economics I
Supply
The total amount of a product or service available for purchase.
Inflation
The rate at which the general level of prices for goods and services is rising.
GDP (Gross Domestic Product)
The total value of all goods and services produced in a country over a specific time period.
Recession
A significant decline in economic activity spread across the economy, lasting more than a few months.
Interest Rate
The amount charged by a lender to a borrower for the use of assets.
Unemployment
The state of being jobless and looking for a job.
Budget
An estimate of income and expenditure for a set period of time.
Investment
The action or process of investing money for profit.
