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Distinguish Between Demand by an Individual Consumer and Market Demand of a Good - Economics

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प्रश्न

Distinguish between demand by an individual consumer and market demand of a good

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उत्तर

Individual demand: The demand curve represents the maximum quantities per unit of time which consumers will consume at various prices.

Market Demand: Market demand curve is the horizontal summation of the individual demand curves. It indicates various quantities of a good which all consumers in the market are willing to buy at different possible prices of a good at a point of time.

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Market Demand
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2013-2014 (March) Foreign Set 2
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