Which concept focuses on consumers' readiness to purchase goods at specific prices?

The concept that focuses on consumers' readiness to purchase goods at specific prices is demand. Demand refers to the relationship between the price of a good and the quantity that consumers are willing and able to buy. As prices change, the quantity demanded typically changes as well, reflecting consumers' varying levels of willingness to purchase based on how affordable or valuable they perceive the good to be at that particular price point.

Demand is often depicted using a demand curve, which graphically represents this relationship. The law of demand states that, all else being equal, as the price of a good decreases, the quantity demanded increases, and vice versa. Understanding demand is crucial for analyzing consumer behavior, market dynamics, and pricing strategies in economics.

The other concepts presented—supply, market equilibrium, and producer surplus—relate to other aspects of the market. Supply focuses on producers' willingness to sell goods at various prices, market equilibrium represents the point where supply equals demand, and producer surplus measures the difference between what producers are willing to accept for a good and what they actually receive. While these concepts are interrelated, focus on demand specifically addresses consumers’ purchasing decisions relative to price.