What is demand
What is market dmand and what is individual demand. explain both of these for 5 marker question with there possible types !!!!!! !!
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In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given period of time. The relationship between price and quantity demanded is also called the demand curve.
Individual demand is influenced by an individual's age, sex, income, habits, expectations and the prices of competing goods in the marketplace. Market demand is influenced by the same factors, but on a broader scale – the taste, habits and expectations of a community and so on.
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