increase in demand JUST WRITTEN FOR YOU
/ɪnˈkriːs ɪn dɪˈmɑːnd/ · in.crease.in.dem.and
noun
- A rise in the quantity of goods or services that consumers are willing and able to buy at a given price level. The company's sales team noticed an increase in demand for their product after it was featured on a popular TV show.
- An upward trend in the level of goods or services that are required or desired by consumers. The economic indicators showed a steady increase in demand for housing in the region, leading to a surge in construction projects.
phrase
- A situation where the quantity of goods or services that consumers are willing and able to buy at a given price level is rising. The company's management team was concerned about the increase in demand for their product, as it put pressure on their supply chain and manufacturing capacity.
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Did you know? The concept of 'increase in demand' is a fundamental principle in economics, and is often used to explain changes in prices and production levels in various industries.