It is an act of obtaining a desired object from someone by offering something in return.

It is a desire for a particular product used to satisfy a need.

It is an economy term that means customer’s need and want for a product must be coupled with purchasing power (money, resources) to obtain the product.

It is a combination of products, services, information, or experiences offered to a market to satisfy a need or a want.

It is the difference between a consumer’s actual state and some ideal or desired state.