Q11 of 50 Page 1

Distinguish between individual’s demand and market demand.Name the factors affecting demand for an individual.

Individual demand refers to the quantity of a good that a single consumer is willing to buy at a price during a period of time.

Market demand is the quantity of a good that all the consumers are willing to buy at a price during a period of time.


The factors that affects the individual demand are:


a) The price of the good.


b) The price of related goods


c) Income of the buyer


d) Tastes and preferences of the consumer


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