You and a friend go clothes shopping and find a great pair of jeans. they fit you perfectly, but they also cost $100. you are willing to buy them, but you only have $50 in your wallet to spend on new clothes. your friend likes the jeans and has the money to buy them. the jeans would count as a demand for

your friend.

For demand to exist, two requirements are necessary. First, there has to be a desire to buy a product. In this case, both you and your friend want to buy the jeans. However, the second requirement is to have the ability to pay for the product. Although you would like to get the jeans, only your friend has enough money. Therefore, the demand exists only in your friend's case.

the committees of correspondence were the american colonies’ means for maintaining communication lines in the years before the revolutionary war. in 1764, boston formed the earliest committee of correspondence to encourage opposition to britain’s stiffening of customs enforcement and prohibition of american paper money. the following year, new york formed a similar committee to keep the other colonies notified of its actions in resisting the stamp act. in 1773, the virginia house of burgesses proposed that each colonial legislature appoint a committee for intercolonial correspondence. the exchanges that followed built solidarity during the turbulent times and bring about the formation of the first continental congress in 1774.