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: -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 higher the price, the more suppliers are likely to produce. Conversely, buyers tend to purchase more of a product the lower its price. The equation that spells out the quantities consumers are willing to buy at each price is called the demand curve.

Detailed explanation-4: -Quantity Demanded. The amount consumers are willing and able to purchase at a given price.

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.