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Question
Individual demand is a demand by a single buyer.
Options
True
False
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Solution
This statement is True.
Explanation:
Individual demand refers to the demand for a good or service by a single buyer. It represents the quantity of a good that one individual can purchase at different prices.
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RELATED QUESTIONS
Draw a demand curve with the help of a hypothetical individual demand schedule.
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(i) Bank rate.
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| Price per kg. in ₹ | Consumer A |
Consumer B |
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| 30 | 12 | 11 | 10 | ______ |
| 35 | 10 | 09 | 08 | ______ |
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| Price (in ₹) | Individual Demand (units) | Market demand (units) | ||
| A | B | C | ||
| 7 | (i) | 16 | 15 | 51 |
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| 9 | 16 | 12 | 11 | 39 |
| 10 | 13 | 10 | 9 | 32 |
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| Price (in ₹) | Quantity Demanded by | Total Demand | ||
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| 20 | 100 |
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| 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 |
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Explain briefly the factors which influence individual demand for a commodity.
