Question

You go clothes shopping and find a great pair of jeans. They fit you perfectly, but they also cost $100. You are willing to buy them, but you only have $50 in your wallet to spend on new clothes. The pair of jeans _____ as demand for you. count might count do not count

Answer 1

Do not count

Step-by-step explanation:

Demand refers to the need or want of a customer for a product backed by purchasing power. He should be willing to pay the price for the product that he demands.

Demand is inversely proportional to price. An increase in price leads to fall in quantity demanded. This is called law of demand. Here, willingness to purchase pair of jeans is there but the same is not backed by purchasing power as only $50 can be spent but Jeans cost $100. So it is not counted as demand.