Economy, asked by pandeyamarnath899, 1 year ago

Distinguish between individual demand and market demand

Answers

Answered by sachinarora2001

Individual Demand : It refers to that quantity of a good in which a consumer is able and willing to buy the good. at each possible price during periods of time ...

Market demand : It refers to that quantity of a commodity in which all consumers in the market are able and willing to buy the product at each possible price during every period of time ..

pandeyamarnath899: Individal Demand
Individual demand describes the ability and willingness of a single individual to buy a specific good or service. As indicated above, this largely depends on the price of the product as well as individual preferences. In most cases (i.e. for normal goods) demand increases as the price of a good or service decreases

pandeyamarnath899: Market Demand
Market demand describes the quantity of a particular good or service that all consumers in a market are willing and able to buy. In other words, it represents the sum of all individual demands for a particular good or service. Again, this is a lot easier to understand if we look at the corresponding demand curve.

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