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WAEC Marketing 2017 Question 27

Question 27

Markets

The desire for specific products which are backed by the ability to pay is

  1. A.need.
  2. B.exchange.
  3. C.transaction.
  4. D.demand.
Show the answer and explanation

Answer: D (demand.)

Explanation

Demand is a desire for a product supported by the ability and willingness to pay.