Question 37 of 39
Q.Distinguish between:
Individual demand and Market demand.
Maharashtra MsbshseMaharashtra HSC (MSBSHSE) Board 2020Subjective· 2mImportance★★★★★
95% · 37/39 Questions
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Start your 14-day free trial to unlock the full solution →Individual demand is one buyer's demand; market demand is the total of all buyers' demands.
| Basis | Individual demand | Market demand |
|---|---|---|
| Meaning | Quantity demanded by a single consumer at various prices | Total quantity demanded by all consumers in the market at various prices |
| Derivation | Shown by an individual demand schedule/curve | Obtained by horizontally adding all individual demand curves |
| Scope | Narrow — one buyer | Wide — the whole market |
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