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demand

noun

/dɪˈmænd/

IPA:

Dictionary definition of demand

A desire or need for a particular product, service, or resource, accompanied by the willingness and ability to pay for it.
"The high demand for the new smartphone led to sold-out stores."

Detailed meaning of demand

It represents the quantity of goods or services that consumers or buyers are willing to purchase at a given price and within a specific time period. Demand is a fundamental concept in economics, as it drives the supply and production of goods and services in a market. It is influenced by various factors, including price, consumer preferences, income levels, availability of substitutes, and overall market conditions. Understanding demand is essential for businesses to make informed decisions regarding pricing, production, and marketing strategies. The level of demand for a product or service can fluctuate over time and is typically represented by demand curves or schedules, which illustrate the relationship between price and quantity demanded.

Example sentences containing demand

1. The company struggled to meet the overwhelming demand for their latest product.
2. The surge in online shopping during the holiday season created a spike in demand for delivery services.
3. The fashion industry constantly evolves to meet the changing demands of consumers.
4. The restaurant increased its staff to keep up with the growing demand for their popular dishes.
5. The sudden increase in demand for face masks caused shortages in stores.
6. The company conducted market research to better understand customer demands and preferences.

History and etymology of demand

The noun 'demand' has an etymology that can be traced back to Latin and Old French. It is derived from the Old French word 'demander,' which means 'to request' or 'to demand.' This word, in turn, comes from the Latin word 'demandare,' which combines 'de' meaning 'completely' and 'mandare' meaning 'to entrust' or 'to order.' Therefore, the etymology of 'demand' conveys the idea of entrusting or ordering something completely, reflecting the notion of a desire or need for a particular product, service, or resource, accompanied by the willingness and ability to pay for it. The word has preserved its connection to the concept of requesting or ordering something, reflecting its historical origins in both Latin and Old French, where it signified the act of making a request or claim for something.

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Further usage examples of demand

1. The supply chain was optimized to ensure timely fulfillment of customer demands.
2. The demand for renewable energy sources has been steadily increasing in recent years.
3. The musician's concert tickets sold out within hours due to high demand.
4. The company adjusted their production schedule to align with fluctuating demand.
5. The company implemented dynamic pricing to respond to shifts in demand and optimize revenue.
6. The high demand for the latest smartphone caused long lines at the store.
7. A sudden surge in demand for face masks led to shortages.
8. The musician's concert tickets sold out quickly due to overwhelming demand.
9. The restaurant struggled to meet the demand for its signature dish.
10. The demand for renewable energy sources is growing steadily.
11. The company expanded its production to meet the rising demand.
12. The real estate market saw a spike in demand for suburban homes.
13. Online retailers saw an unprecedented increase in demand during the pandemic.
14. The fashion designer's creations were in high demand among celebrities.
15. The demand for clean water in developing countries remains a pressing issue.
16. The art auction saw fierce demand for rare, collectible paintings.
17. The supply chain disruptions affected the availability of goods in high demand.
18. Meeting customer demand is a top priority for successful businesses.
19. The demand for skilled tech workers continues to outpace supply.
20. The healthcare industry faces an ongoing demand for quality care.
21. The demand for eco-friendly products reflects a shift in consumer values.
22. Educational institutions must adapt to the changing demands of students.
23. The demand for electric vehicles is driving innovation in the auto industry.
24. Meeting the demands of a growing population requires careful planning.
25. Balancing supply and demand is essential for economic stability.