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Distinguish Between Individuals Demand and Market Demand. - CBSE (Arts) Class 12 - Economics

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Question

Distinguish between individuals demand and market demand.

Solution

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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Solution Distinguish Between Individuals Demand and Market Demand. Concept: Demand Curve and Its Slope.
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