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प्रश्न
Define individual demand.
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उत्तर
Individual demand refers to the quantity of the commodity that an individual household is willing to buy at different prices in a given period of time.
संबंधित प्रश्न
Draw a demand curve with the help of a hypothetical individual demand schedule.
Explain the role of the following in correcting ‘deficient demand’ in an economy:
(i) Open market operations.
(ii) Bank rate.
The relationship between income and demand for inferior goods is ______.
Observe the following table and answer the following questions:
| Quantity demanded | ||||
| Price per kg. in ₹ | Consumer A |
Consumer B |
Consumer C |
Market demand (in kgs) (A + B + C) |
| 25 | 16 | 15 | 12 | ______ |
| 30 | 12 | 11 | 10 | ______ |
| 35 | 10 | 09 | 08 | ______ |
| 40 | 08 | 06 | 04 | ______ |
- Complete the market demand schedule.
- Draw market demand curves based on the above market demand schedule.
Give economic terms:
Graphical representation of demand schedule.
Identify and explain the concept from the given illustration:
Deepak decided to count how many times he had to travel by train in a period of one month.
Study the following table and answer the questions:
| Price of Chocolate (₹) | Quantity Demanded | Market Demand | ||
| Consumer A | Consumer B | Consumer C | (A + B + C) | |
| 50 | 4 | 9 | 20 | 33 |
| 100 | 3 | `square` | 15 | 26 |
| 150 | `square` | 7 | 10 | 19 |
| 200 | 1 | 6 | 5 | `square` |
| 250 | 0 | 5 | `square` | 5 |
Questions:
- Complete the above table.
- State whether the following statements are True or False:
(a) As the price rises from ₹50 to ₹250, market demand falls from 33 to 5. This fall in market demand is known as the decrease in demand.
(b) There is an inverse relationship between price and market demand.
Complete the correlation:
______ : Microeconomics : : Aggregate demand : Macroeconomics.
If commodity X and Y are substitutes, increase in price of X will affect demand of Y how?
Identify the most efficient student:
| Name of the student |
No. of projects completed |
Quality of projects | Time taken (in days) |
| P | 5 | Average | 4 |
| Q | 5 | Very good | 4 |
| R | 5 | Very good | 7 |
| S | 6 | Poor | 3 |
Demand schedule is a list of prices and quantities.
From the following data regarding individual demand schedules of households A, B and market demand schedule, what will be the values of (i) and (ii) (Assuming that there are only 2 households in the market).
| Price (in ₹) | Individual Demand (units) | Market demand (units) | ||
| A | B | C | ||
| 7 | (i) | 16 | 15 | 51 |
| 8 | 18 | 15 | (ii) | 46 |
| 9 | 16 | 12 | 11 | 39 |
| 10 | 13 | 10 | 9 | 32 |
From the given demand schedule, what will be the effect on demand curve.
| Price in (₹) | Demand (units) |
| 20 | 100 |
| 20 | 70 |
Individual demand is a demand by a single buyer.
Construct a demand schedule showing relationship between price and quantity demanded.
Shyam, Sita, Renu, Ahmed and John are five consumers of apples. Their demand for apples is given below. Derive the market demand schedule for apples.
| Price per Kg. (In ₹) | Quantity Demanded (Apples) in Kg. | ||||
| Shyam | Sita | Renu | Ahmed | John | |
| 25.00 | 16 | 15 | 12 | 14 | 18 |
| 30.00 | 12 | 11 | 10 | 8 | 15 |
| 35.00 | 10 | 9 | 8 | 6 | 12 |
| 40.00 | 8 | 6 | 4 | 2 | 8 |
Explain briefly the factors which influence individual demand for a commodity.
What is a demand schedule?
What does a demand schedule show?
According to the law of demand, what usually happens as the price of a commodity falls?
How is the demand curve related to the demand schedule?
What distinguishes an individual demand schedule from a market demand schedule?
