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Distinguish between: 1. Desire and demand
Distinguish between:
1. Desire and demand
ANSWER:
Desire
Demand
Desires refer to those wishes that a human being cherishes.
Demand refers to the quantity of goods that individuals are willing to buy.
They may or may not be backed by financial power.
It should be backed by financial power.
For example: Walking on the moon
For example, a consumer demands 2 kg sugar at Rs 10 per kg and 3 kg sugar at Rs 8 per kg.
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