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State Whether the Following Statement is True and False Individual Demand is a Demand by Single Buyer. - Economics

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Question

State whether the following statement is TRUE and FALSE

Individual demand is a demand by single buyer.

Solution

TRUE

Individual demand is the demand of a commodity by a particular consumer. It represents various quantities of a particular commodity that a consumer (single buyer) is willing to purchase at different possible prices at a particular point in time.

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APPEARS IN

 Micheal Vaz Solution for Micheal Vaz Class 12 Economics (2019 to Current)
Chapter 3: Demand Analysis
Exercise | Q: 3.6 | Page no. 24

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Solution State Whether the Following Statement is True and False Individual Demand is a Demand by Single Buyer. Concept: Demand.
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