Question

When economists speak of "quantity demanded" in a particular market they refer to

Question 8 options:

	A) how much of an item sellers are willing to sell at a given price.
	B) the whole demand curve or schedule.
	C) how much of an item buyers want to buy at a given price.
	D) the change in output relative to the change in inputs.

Answer 1

Correct Answer - B

A is wrong because quantity demanded has no relation with the suppliers of a product. It only depends on demand of good by users/consumers.

C is wrong because if for example individual x wants to buy a chocolate at a price of $10 and y wants to buy a chocolate but at a price of only $5. The quantity demanded for chocolates stands at 5 as two individuals want to buy one chocolate each though at different prices.

D is wrong because quantity demanded is not determined by production factors like cost of input, suppliers, or production rate or production cost.

Finally option B is correct because as we already saw in the example given for option B quantity demanded for a particular good is total demand of a particular good at all prices which is everything under the demand curve.