Economics Question
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What does it mean when an economist says that a consumer has demand for a good or service?
- the consumer is able to afford the good or service, but may be unwilling to buy it.
- the consumer wants the good or service but may not actually have the money for it.
- the consumer is able to buy the good or service but not at the price demanded.
- the consumer is willing and able to buy the good or service at the specified price.