Demand

Primary tabs

  1. To request forcefully or under legal authority. A demand letter usually initiates the legal dispute resolution process in which one party is seeking performance or abstention from a specific action, or monetary restitution to settle a claim
  2. In economics, demand is a principle referring to the relationship between the quantity of a product produced and the desire of consumers to purchase that product. 

[Last updated in July of 2021 by the Wex Definitions Team]