The total demand for a product is called which term?

The total demand for a product is called which term?

• A. Demand
• B. Market Demand
• C. Extension in Demand
• D. Aggregation

Answer: (A)

Demand describes the quantity buyers are willing and able to purchase at various prices over a given period. When we talk about the total demand for a product, we’re referring to the overall amount that consumers would buy across all buyers at each price—the demand for that product as a whole. While “market demand” is a precise label for the sum of all individual demands in a market, the general term used here is demand. The other options aren’t standard terms for this idea: extension in demand isn’t a recognized concept, and aggregation isn’t the name for the total demand itself.

Demand describes the quantity buyers are willing and able to purchase at various prices over a given period. When we talk about the total demand for a product, we’re referring to the overall amount that consumers would buy across all buyers at each price—the demand for that product as a whole. While “market demand” is a precise label for the sum of all individual demands in a market, the general term used here is demand. The other options aren’t standard terms for this idea: extension in demand isn’t a recognized concept, and aggregation isn’t the name for the total demand itself.