Question

Which of the following is NOT an example of demand? 1 point Smith wants to buy tickets to the Imagine Dragons concert that go on sale next week. A pair of boots just went on sale and Neve decides to order them online. Hank has more than enough money to buy a hockey team but he doesn't really like hockey and has no desire to own one. Sophie just got a raise and can finally afford to purchase the new tablet she has been saving up for

Answer 1

First of all it should be understood that demand is generated when there is

Willingness to buy and

Desire to pay

These two criteria must be met then there we will say that there is demand

Now in case of Smith since he wants to buy the ticket for the concert so it is an example of demand

Similary goes for the pair of boots

Sophie has a desire to but and willingness and she has been saving for it for long time and now she can finally buy a new tablet

It means she has the desire and the willingness to pay as well.

But in option C, Hank has more than enough money but he does not have any desire to buy or willingness to pay so there will be no demand

Hence the correct answer here is option C