what is the difference between demand and quantity demanded?
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The fundamental difference between demand and quantity demanded is that while demandsimply denotes the willingness and a person’s ability to purchase. As against this quantity demanded represents the amount of an economic good or service desired by consumers at a fixed price.
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heya user!
Change in Quantity demanded is a function of price. Law of demand states that other factor remaining constant, quantity demand is inversely related to price, I. e. lower is demanded at higher price and higher is demanded at a Lower price .
while change in demand is due to other factors other than price for e. g. consumer's taste, habits, preference, fashion etc.
hope this help! ^_^
Change in Quantity demanded is a function of price. Law of demand states that other factor remaining constant, quantity demand is inversely related to price, I. e. lower is demanded at higher price and higher is demanded at a Lower price .
while change in demand is due to other factors other than price for e. g. consumer's taste, habits, preference, fashion etc.
hope this help! ^_^
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