Demand (redirected from demandable)

Demand

The need or desire for a good, service, or asset among consumers at a given price. The amount of demand at a given price is determined by supply and the availability of similar or replacements goods and services, among other factors. While demand for some staple products is relatively constant regardless of price, most of the time the price has a large influence on the level of demand. Demand for a good or service tends to increase as its price decreases. See also: Law of supply and demand, Demand curve.

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Demand

What Does Demand Mean?

An economic principle that describes a consumer's desire and willingness to pay a price for a specific good or service; all things being equal, the price of a good or service increases as its demand increases and vice versa.

Investopedia explains Demand

One can think of demand as a person's willingness to go out and buy a certain product. For example, market demand is the total of what everybody in the market wants and is willing to pay for. Businesses often spend a considerable amount of money to determine the amount of demand that the public has for its products and services. Underestimating demand can result in money left on the table, whereas overestimating can lead to large inventories and losses.

Related Terms:
• Inelastic
• Law of Demand
• Law of Supply
• Market Economy
• Market Value