We consume for various reasons. Sometimes we buy in order to reduce suffering (medicine), or to give pleasure (movies), or to feel safer (a lock), to become wiser (education), or to be more comfortable (a chair). What is the one word used by economists that includes all these meanings?

A cost

B price

C demand

D benefit

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Brielle Drake

13 August, 11:12

We consume for various reasons. Sometimes we buy in order to reduce suffering (medicine), or to give pleasure (movies), or to feel safer (a lock), to become wiser (education), or to be more comfortable (a chair). What is the one word used by economists that includes all these meanings?

A cost

B price

C demand

D benefit

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Answers (1)

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Dalton Robertson · Answer 1

The correct answer is C. Demand is how much of a certain product or service will be needed to satisfy the population. It is called supply and demand and can be applied to all of the meanings.