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DEMANDDEMANDANALYSISANALYSIS
 
WH
AT IS DEMAND?
WH
AT IS DEMAND?
DemandDemand meansmeans effectiveeffective desiredesire oror want want forfor aa commoditycommodity whichwhich isis backedbacked upup byby thethe abilityability (purchasing(purchasing power)power) andand willingnesswillingness toto paypay forfor itit..
DemandDemand == DesireDesire ++ AbilityAbility toto paypay ++ WillingnessWillingness toto spendspend
DemandDemand isis aa relativerelative concept concept  not not absoluteabsolute It It isis relatedrelated toto priceprice ,, timetime andand placeplace.. TheThe demanddemand forfor aa commoditycommodity refersrefers toto thethe amount amount of of it it  whichwhich willwill bebe bought bought perper unit unit of of timetime at at aa particularparticular priceprice (( inin aa particularparticular market)market)..
 
INDIVIDUAL AND MARKETINDIVIDUAL AND MARKETDEMANDDEMAND
Individual Demand Individual Demand 
: Individual demand for a product is: Individual demand for a product isthe quantity of it a consumer would buy at a given price,the quantity of it a consumer would buy at a given price,during a given period of time.during a given period of time.
M 
arket demand 
M 
arket demand 
: Market demand for a product is the: Market demand for a product is thetotal demand of all the buyers in the market takentotal demand of all the buyers in the market takentogether at a given price during a given period of time.together at a given price during a given period of time.
Demand Schedule:Demand Schedule:
µ A tabular statement of priceµ A tabular statement of price ±±quantity (demanded) relationship at a given period of quantity (demanded) relationship at a given period of time¶time¶
Individual demand scheduleIndividual demand schedule
Market demand schedule.Market demand schedule.
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