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Economics vocabulary · Markets, Supply and Demand

Demand

Meaning in economics, with examples

/dɪˈmɑːnd/nounCore term

In economics, demand means: The amount of a good or service that buyers are willing and able to purchase at each possible price during a given period.

In Turkish: talep

How it is used

Used in theory (the demand curve, the law of demand) and everywhere in the news: strong or weak demand, demand for exports, consumer demand. Demand rises, falls, picks up or cools.

Example sentences

  1. Demand for electric cars has grown quickly as battery prices have fallen.

  2. Higher interest rates are meant to cool demand and bring inflation down.

Common collocations

  • demand for
  • strong demand
  • weak demand
  • demand curve
  • domestic demand
  • supplyThe amount of a good or service that producers are willing and able to sell at each possible price during a given period.
  • equilibriumA situation in which supply and demand are equal, so there is no pressure for the price or the quantity to change.
  • elasticityA measure of how strongly the quantity demanded or supplied responds to a change in price, income or another factor.
  • consumer spendingThe money that households spend on goods and services, from food and rent to cars and holidays; it is the largest part of GDP in most economies.

More terms: Markets, Supply and Demand

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This page explains English vocabulary for learners. It is not financial advice.