Read each question and choose the best answer In economics, the concept of demand is defined as the desire to own something A that has not yet been manufactured or produced B. and a willingness to pay more than other consumers for it C. that a manufacture is capable of producing (1) combined with the ability to pay for it

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Read each question and choose the best answer In economics, the concept of demand is defined as the desire to own something A that has not yet been manufactured or produced B. and a willingness to pay more than other consumers for it C. that a manufacture is capable of producing (1) combined with the ability to pay for it

Answer 1

## Step 1The concept of demand in economics is defined as the desire to own something and the willingness to pay for it. This means that demand is not just about wanting something, but also about being able to afford it.## Step 2Option A, "that has not yet been manufactured or produced", does not define demand. This is because demand can be for goods that are already available or for goods that are yet to be produced.## Step 3Option B, "and a willingness to pay more than other consumers for it", is not a correct definition of demand. While consumers may be willing to pay more for certain goods, this does not define demand.## Step 4Option C, "that a manufacturer is capable of producing", is also not a correct definition of demand. This is because demand is not about what a manufacturer can produce, but about what consumers are willing and able to pay for.## Step 5Option D, "combined with the ability to pay for it", is the correct definition of demand. This is because demand is not just about wanting something, but also about being able to afford it.

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