Distinguish between individual demand and market demand.
Answers
The individual demand is the demand of one individual or firm. It represents the quantity of a good that a single consumer would buy at a specific price point at a specific point in time. while the term is somewhat vague, individual demand can be represented by the point of view of one person, a single family
Market demand provides the total quantity demanded by all consumers. In other words, it represents the aggregate of all individual demands. There are two basic types of market demand: primary and selective. primary demand is the total demand for all of the brands that represent a given product or service, such as all phones or all high-end watches.
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Individual Demand: This is a term used to refer to different quantities of a particular good that a person is willing and ready to buy at various levels of prices throughout a specified time period.
Market Demand: This term used to describe the aggregate demand of everyone in the market at varying levels of prices throughout a specified period.