Question

1.explain individual demand 2.explain market demand. guys takw asnwer fast​

Answer 1

1. Individual demand refers to the demand for a good or a service by an individual (or a household). Individual demand comes from the interaction of an individual's desires with the quantities of goods and services that he or she is able to afford

2 Market demand is the total quantity demanded across all consumers in a market for a given good. Aggregate demand is the total demand for all goods and services in an economy.

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Answer 2

Dear students , Here is your answer

: $\implies$ The Individual demand refers to the demand made by individual entity. For example, the demand made by individual person, individual firm, etc. While market demand refers to the sum of all individual demand for the commodity. Market demand increases with the entry of more buyers in the market..

: $\implies$ The Market demand is the aggregate of all individual consumer demand for a commodity in a market during a particular period of time.

Features of market demand are :-

❍ The market demand function for a good at a particular price is the sum total of the demands of all the consumers in a market.

❍ Market demand function represents the relationship between the market demand of a good and its various determinants.

❍ Note :- See attachment for better explanation