ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A market demand curve is the summation of the individual demand curves in a given market. It shows the quantity of a good demanded by all individuals at varying price points.

Detailed explanation-2: -Demand-a schedule or a curve showing the various amounts of a product consumers are willing and able to buy at each of a series of possible prices during a specified period of time. Quantity Demanded-the amount of a good that consumers choose to buy at a particular price.

Detailed explanation-3: -The market demand curve is a graph that shows the relationship between the price of a product and the demand for that particular product. The price is typically shown on the Y axis of the graph while the demand is shown on the X axis.

Detailed explanation-4: -Demand is just how many of an item a consumer is willing to buy-the sheer quantity. Quantity demanded is how many things a consumer will purchase at a specific price. Quantity demanded is a more detailed metric. 1 Graphed out, demand is the entirety of the demand curve, whereas quantity demanded is a single point.

Detailed explanation-5: -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.