Question

Fernandez is a buyer for Western Foods. As a member of the food-buying market, Fernandez is a member of a group of individuals and/or organizations that have needs for products in a given category and have the ability, willingness, and ___ to purchase such products?

1) Desire
2) Demand
3) Determination
4) Dedication

Answer 1

The missing term in the statement is 'demand,' which is the ability and willingness to purchase products based on needs and wants, as well as the financial capability to do so.

Step-by-step explanation:

Fernandez, as a buyer for Western Foods and a member of the food-buying market, is a part of a group that not only needs products in a given category but must also possess the ability, willingness, and ability to pay for such products. The correct term to fill in the blank is demand. In economic terms, demand refers to the amount of a good or service that consumers are willing and able to purchase at each price.

This concept is based on both needs and wants, as well as the necessary purchasing power to acquire the product. For example, demand for wheat flour in a specific area can be graphically represented, demonstrating how quantity demanded changes with price changes.