expanding demand
/ɛksˈpændɪŋ dɪˈmænd/ · ex.pand.ing de.mand
noun
- A growing need or requirement for a product or service, often driven by technological advancements, demographic changes, or shifting consumer preferences. The company's success was largely attributed to its ability to meet the expanding demand for sustainable energy solutions.
idiom
- A situation where the need or requirement for something is increasing rapidly, often causing challenges in meeting the demand. The expanding demand for housing in the city led to a shortage of affordable options for low-income families.
Did you know? The concept of expanding demand is closely related to the economic principle of supply and demand, where an imbalance between the two can lead to market fluctuations and opportunities for businesses to innovate and adapt.