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Effective demand

Ex ante spending, that is plans to purchase, by people with the means to pay. Effective demand is contrasted with notional demand, the demand that would exist if all markets were in equilibrium. Effective demand thus excludes the extra goods that unemployed workers would buy if they could get jobs, or that credit-constrained entrepreneurs would buy if they could obtain finance.

Reference: Oxford Press Dictonary of Economics, 5th edt.