Demand: defined by the Sticky-Marketing.com monthly magazine |
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"Demand" as a term is often used in economics to describe the customer side of a commercial relationship (demand and supply).
Economics argues the balance between demand and supply, and other factors such as barriers to new market entrants, will often tend to determine the price that can be charged and the price that
customers will play for an item.
Economists make many assumptions however for example the concept of perfect knowledge where all players in a market have access to all the information which allows them all to make rational
decisions. This differs somewhat to reality where many if not most players in a market are making decisions on partial information in an imperfect market.
See also need, necessity, perfect markets
10/06/2001 Use your browser back button or
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