Quantity Demanded

Definition

Quantity demanded refers to the amount of a good or service that consumers are willing and able to purchase at a given price during a specific period.

Related terms

Demand: Demand refers to the entire relationship between the price of a good or service and the quantity demanded by consumers.

Law of Demand: The law of demand states that there is an inverse relationship between price and quantity demanded. As price increases, quantity demanded decreases, and vice versa.

Market Demand: Market demand represents the sum total of all individual quantities demanded by consumers in a market at various price levels.