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Demand — Economics STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsDemand2 Marks
Question
What is individual demand ?
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Answer

  • During a particular period, demand made by an individual or family for a commodity at different prices is called individual demand.
  • The market demand is delivered from the summation of the individual demands.
  • The concept of market demand is more important than the concept of individual demands.
  • The concept of market demand is more important than the concept of individual demand in economics.
  • The individual demand curve is negatively slopped which shows the inverse relationship between price and demand.
  • The individual demand curves vary with the individuals because the demands of individual are different at different prices.

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