Individual Demand
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Market Demand
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1. Meaning
It refers to the quantity of a commodity purchased by an individual at different prices, at a given time and place.
2. Presentation
Individual demand can be presented wit the help of ‘Individual demand schedule, and ‘individual demand curve’.
3. Factors affecting
Factors affecting individual demand are: - price, disposable income of the individual, taste, habits, credit facilities, etc.
4. Scope
It is narrow in scope as it is part of market demand.
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It refers to the total quantity of a commodity purchased at different prices by all consumers together in the market at a given time and place.
Market demand can be presented with the help of ‘Market demand schedule, and ‘market demand curve’
Factors affecting market demand are: - Size and growth of population , composition of the population –age structure and sex ratio, etc
It is broader in scope as it includes all individual demand.
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INDIVIDUAL DEMAND MARKET DEMAND
