ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Q. Individual demand refers to the quantity of the commodity that a consumer is able and willing to buy at each possible price during a given period of time.

Detailed explanation-2: -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. Demand is based on needs and wants-a consumer may be able to differentiate between a need and a want, but from an economist’s perspective they are the same thing.

Detailed explanation-3: -Demand is simply the quantity of a good or service that consumers are willing and able to buy at a given price in a given time period. People demand goods and services in an economy to satisfy their wants, such as food, healthcare, clothing, entertainment, shelter, etc.

Detailed explanation-4: -Demand is the desire, willingness, and ability to buy a good or service. price and the quantities bought and sold. Several factors can cause market demand for a product or service to change.

Detailed explanation-5: -The quantity demanded represents the quantity that people or consumers are able and willing to buy at a specific price.