the definition of demand?

[hanykoo12]

So we commonly refer to demand as "ability and willingness of the consumer to buy". Is it implied that the quantity demanded is actually bought? or does demand take into account all quantity that consumers are able and willing to buy (but aren't actually bought)?

[Pallavi]

In theory, it is implied that the quantity that consumers are "willing and able to buy" is bought.

Being willing and able to buy something but still not buying it is considered irrational behavior and is not taken into account while dealing with theory.

The irrational behavior acts as a limitation when the theory is applied to the real world, and that is why it is generally quite hard to find the exact level of demand for a good in the real economy.

So basically, in theory, when they say consumers are willing and able to buy the product, the product is bought (unless ofc there is a shortage in the market).

[hanykoo12]

In theory, it is implied that the quantity that consumers are "willing and able to buy" is bought.

Being willing and able to buy something but still not buying it is considered irrational behavior and is not taken into account while dealing with theory.

The irrational behavior acts as a limitation when the theory is applied to the real world, and that is why it is generally quite hard to find the exact level of demand for a good in the real economy.

So basically, in theory, when they say consumers are willing and able to buy the product, the product is bought (unless ofc there is a shortage in the market).

Thank you!