ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Demand for goods and services Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price.

Detailed explanation-2: -Individual Demand Schedule: Individual demand schedule is a tabular representation of the quantities of goods that an individual demands at different prices and time, keeping all the other factors constant.

Detailed explanation-3: -Individual demand schedule is a tabular representation of quantity of goods demanded by an individual consumer at different prices during a given period of time. Market demand schedule is a tabular representation of total quantity of goods demanded by all consumers at different prices during a given period of time. 2.

Detailed explanation-4: -In economics, a market demand schedule is a tabulation of the quantity of a good that all consumers in a market will purchase at a given price. At any given price, the corresponding value on the demand schedule is the sum of all consumers’ quantities demanded at that price.