Individual demand is the quantity of commodity demanded by consumer at a given price during a given period of time

It is a tabular representation showing different quanties of commodities that an individual consumer is preapred to buy at various prices over a given period of time

Market demand is total demand for a commodity from all the consumers at a given price during a given period of time

It is a tabular representation showing different quantities of commodity which all consumers are prepared to buy at various prices over a given period of time

A consumer tens to buy more when the price falls & Vice-Versa this implies that demand curve is downwards sloping

When price falls purchasing power of consumer increases which enables him to buy more of the commodity

In case of substitute goods, when the price of commodity rises the consumer tens to buy more of its substitute & less of that commodity

When a commodity can be used for satisfying several needs its demand will rise with a fall in its price & Vice-Versa

When a price of commodity falls a new consumer class appears who can now afford commodity

It is the demand by the consumer of goods which satisfy their want directly

Dereived demand it reffers to demand for goods which are needed for further production eg demand for workers in sugar factory

When 2 or more goods are demanded jointly to satisfy single want it is known as joint complementary want eg car/fuel,pen/refill

The demand for commodity which can be put to several use is known as composite demand eg electricity is demanded for several uses light/fan/washing machine electricity

It is demanded for those goods which are substituted to each other eg Tea/Coffe, Sugar/Jaggery,Rice/Wheat

Consumers prefer to purchase a product in large quantities when price of product is less Vice-Versa

Rise in Income will lead to a rise in demand for a commodity

If a subsitute good is available at low price then people will demand cheaper subsitute goods then costly goods

Change in price of 1 commodity wood also affect demand for other commodity eg if a price of fuel rises then demand for cars will fall

If a commodity is a neccesity then its demand will continue to be the same irrespective of corresponding price eg electricity, cooking gas

The greater the size of population the greater will be demand for commodity

If the consumer expects the price to fall in future he'll buy less in present at prevailing price

Sales promotion changes preference of consumer & leads to demand for many products eg cosmetic toothbrush etc

Taste & habits of a consumer influences the demand for commodity

If a consumer likes to eat chocolates he'll demand more of it similarly when the new fashion hits the market the consumer demands that particular type of commodity

High rates of taxes on goods or services would increase the price & decrease demand for those goods & services

Climatic condition

Changes in Technology

Government Policy

Customs & Fashion Traditions

If there's rise in income people may demand more at given price vice-versa

Any change in size & composition of population of a country affects total demand for a product

Any change in price of substitute goods will affect demand of commodity

It is assumed that prices of complementary goods remain unchanged bcoz of change in the price of one good will affect demand for other

If consumer expectrise in prices in future they may demand more in the present even at existing high price

Any change in these factors will lead to change in demand

Taxiation policy of government has a great impact on demand for various goods & services

Demand for inferior goods does not rise even if their price falls. At times the demand decreases when the price of such commodities fall

Expensive goods like diamond gold are status symbol so rich people more of it even when their price is high

The law of demand does not hold true when people expect prices to rise till further eg prices of sugar oil tense to rise before diwali so people go on purchasing more as they anticipate more high price rise during diwali

Consumers have an illusion that high priced goods are of a better quality therefore the demand for such goods increase with the rise of prices eg branded products

Sometimes due to ignorance people buy more of a commodity at high prices

Due to habit of consumption, certain goods like tea & coffee are purchased in required quantites even at a higher price

Expansion of Demand refers to rise in quantity demand due to fall in price alone due to other factors like taste income population size remain unchanged

Contraction of Demand refers to fall in demand due to rise in price alone other factor like taste income population size remain unchanged