Question

describe the difference between the desire for a good and the demand for a good as they are understood by economic analysis

Answer 1

Demand: Request for a good is a combination of desire, payment willingness, and payment will. Demand is an economic term, and one of the most powerful market powers.

Desire: Desire is simply a desire to own a product, regardless of whether or not you can afford it, for example, you may want to own a Ferrari car without the ability to pay.

Let's take a begger's example, he may want to own a car or a bungalow, but his ability to buy the same thing is zero.

Similarly, a miser may be willing to own a brand new BMW car and have the resources to purchase one, but when it comes to the prevailing market price, he may not be able to part with such an enormous amount, because for a suffering, pure desire and purchasing resources are not economic demand. For a doctor who wishes or wants to purchase a car, Demand in economic sense, along with his capacity and willingness to pay, is. While pure desire for the begger is not demand. Mere appetite and capacity for suffering does not warrant it.