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Question
Distinguish Between
Individual demand schedule and Market Demand Schedule
Solution
| Sr. No. | Individual Demand Schedule | Market Demand Schedule |
| 1. | Individual demand schedule is a tabular representation of quantity of goods demanded by an individual consumer at different prices during a given period of time. | Market demand schedule is a tabular representation of total quantity of goods demanded by all consumers at different prices during a given period of time. |
| 2. | Individual demand schedule represents individual demand. | Market demand schedule represents market demand. |
| 3. |  |
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RELATED QUESTIONS
The relationship between demand for a good and the price of its substitute is ______.
Complete the following statement:
When less units are demanded at high price it shows ______.
Give economic term:
More quantity is demanded due to changes in the factors determining demand other than price.
Give an economic term:
A desire which is backed by willingness to purchase and ability to pay.
Observe the given diagram and answer the following questions:
- The rightward shift in demand curve ______.
- Leftward shift in demand curve ______.
- Price remains ______.
- An increase and decrease in demand come under ______.
Demand curve : ______ :: Supply curve : Upward
Tea and coffee : ______ :: Electricity : Composite demand
Steeper demand curve : Relatively inelastic demand :: Flatter demand curve: ______.
Total demand for a commodity from all the consumers at a given price during a given period of time −
Demand for a commodity which can be put to several uses −
Find the odd word
Types of demand -
Assertion (A): All desires are not demand.
Reasoning (R): In Economics, demand means a desire which is backed by willingness and ability to pay.
Identify & explain the concept from the given illustration.
Kaushik purchased 10 kgs of wheat for his monthly consumption at ₹ 40/- per kg.
Identify & explain the concept from the given illustratio.
Aman purchased sewing machines and furniture for his tailoring shop.
Identify & explain the concept from the given illustration.
Manish purchased 100 metres of cotton textile to produce readymade shirts at his garment factory.
Distinguish Between
Joint/Complementary demand and Composite demand
Distinguish Between
Demand curve and Supply Curve
State with reason whether you agree or disagree with the following statement:
All desires are demand.
Study the following table, figure, passage and answer the question given below it.
| Price of commodity ‘ X | Quantity of ‘X‘ in kgs. | Market demand | ||
|
Consumer A |
Consumer B |
Consumer C |
A+B+C | |
| 10 | 5 | 10 | 15 | 30 |
| 8 | 10 | 15 | ______ | 45 |
| 6 | ______ | 20 | 25 | 60 |
| 4 | 20 | ______ | 30 | 75 |
| 2 | 25 | 30 | 35 | ______ |
| 1 | 30 | 35 | 40 | 105 |
- Complete the table. (2m)
- Draw Market demand curve based on above Market demand schedule and label it. (2m)
The demand for a commodity which can be put to several uses is known as ______.
Identify and explain the following concept:
A poor person wants to buy a car.
Identify and explain the concept from the given illustration:
Unemployed poor individual wishes to have branded costly wrist watch.
