ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Demand is the consumer’s desire to purchase a particular good or service. Market demand is the demand for a particular good in the market. Aggregate demand is the total demand for goods and services in the economy. Demand and supply match determines the price of the good or service. Understanding the concept of demand.

Detailed explanation-2: -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-3: -Meaning of demand price in English the price that people are willing to pay for goods and services when a particular amount or quantity is available: When the demand price is greater than the supply price, the amount produced tends to increase.

Detailed explanation-4: -What Is Demand? Demand is an economic concept that relates to a consumer’s desire to purchase goods and services and willingness to pay a specific price for them. An increase in the price of a good or service tends to decrease the quantity demanded.

Detailed explanation-5: -i. Individual and Market Demand: ii. Organization and Industry Demand: iii. Autonomous and Derived Demand: iv. Demand for Perishable and Durable Goods: v. Short-term and Long-term Demand: