What does "quantity demanded" refer to?

"Quantity demanded" specifically refers to the amount of a product that consumers are willing and able to purchase at a particular price during a specified time period. This concept is pivotal in understanding consumer behavior in economics, as it reflects the relationship between price and the amount that consumers want to buy.

When the price of a product changes, the quantity demanded typically changes as well, demonstrating the law of demand—when prices decrease, quantity demanded usually increases, and vice versa. This is distinct from the total amount of product available, which focuses on supply, or the entire demand curve, which represents all possible prices and their corresponding quantities demanded. Understanding quantity demanded helps to analyze market dynamics and consumer choices at specific price points.