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diff. b/w desire and demand

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diff. b/w desire and demand

    • Posted by Guneet Rangi 5 years, 1 month ago

    CBSE > Class 12 > Economics
    • 1 answers

    Yogita Ingle 5 years, 1 month ago

    Desire Demand
    (i) Desire simply refers to the mere wish of a person to have a particular commodity. Demand refers to a desire backed by the ability and willingness to pay for a particular commodity.
    (ii) A person can desire anything at any point of time. There are no limitations for a desire. There are several limitations affecting demand like ability to pay, willingness to buy etc.
    <div>(iii) There is no relation between desire with price, place and time.</div> Demand has relation with price, place and time
    (iv) Desire has a wider scope as it includes demand. Demand has a narrow scope as it is a part of desire.

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