This paper considers terrorism as a market, with a supply side that has received inordinate attention and a demand side that has received too little. The demand for terrorism is principally about fear: there would be little reason to produce terrorism if it did not bring attention to the causes of terrorists, and it brings attention primarily by way of fear. We consider here the nature and sources of the demand side of the terrorism market, starting with the truism that acts of terrorism serve the purposes of terrorists because of the public's fear. The paper then analyzes fear in terms of its relationship to actual risks, perceived risks, and internal and external stimuli that contribute to it, and it describes a model of fear management based on the Routine Activities Theory and the balancing of the social costs of fear. It considers the roles of media and politics as both stimuli and prospective tools for managing fear.