Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsDemand2 Marks
Question
What is market demand?
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Answer
Market demand:
The sum total of all individual demands of all existing consumers in the market at a given price at a particular point of time is called ‘market demand.
The table given below shows individual demand of customers $A, B$ and $C$.
The last column of the data table is as summation of individual demands. This summated demand is called the market demand.
The first three diagrams show individual demand of each customer whereas the fourth diagram shows their combined demand i.e. market demand.
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