Question:
Willingness to obtain a commodity is called
Willingness to obtain a commodity is called
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Remember: Desire (wish) $\rightarrow$ Demand (desire + ability + willingness to pay).
Updated On: Nov 5, 2025
- Desire
- Want
- Demand
- All of these
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The Correct Option is A
Solution and Explanation
In basic economics, desire is the mere willingness or wish to have a commodity.
A want is a broader term for human needs/wishes and may be non-specific.
Demand is an effective desire: desire backed by the ability and willingness to pay at a given price and time.
Since the question mentions only the willingness to obtain (without ability to pay), it corresponds to desire, not demand.
A want is a broader term for human needs/wishes and may be non-specific.
Demand is an effective desire: desire backed by the ability and willingness to pay at a given price and time.
Since the question mentions only the willingness to obtain (without ability to pay), it corresponds to desire, not demand.
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