Demand is desire / want backed by money (Demand=desire+ ability to pay+ will to pay) demand is always related to price and time (example :demand for oranges by a household at a price of Rs. / kg is 5kg oranges / week) individual demand refers to demand from the individuals / family / household. It is a single consuming entity's demand. Market demand is more important from the business point of view, sales depends on market demand
Demand is desire / want backed by money (Demand=desire+ ability to pay+ will to pay) demand is always related to price and time (example :demand for oranges by a household at a price of Rs. …