Theory of Demand | 7 Objectives of Demand Analysis
The demand refers to a consumer’s willingness for such quantity of goods and services and ability to pay for same at various prices dealing within a period of time. In economics, demand is something more than desire to purchase. For example, if any person is feeling hunger but he does not have money to pay for it, in that case his demand is ineffective. Effective demand involves three things Desire,
Means to purchase, and Willingness to use those means for that purchase.