Difference between individual demand and market …

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Difference between individual demand and market demand

Posted by Arpita Mandlik 3 years, 5 months ago

Sia ? 3 years, 5 months ago

Basis of Difference	Individual Demand	Market Demand
Meaning	It refers to the quantity demanded of a commodity by a single firm or consumer.	It refers to the quantity demanded of a commodity by all the consumers or the firms in the market.
Shown by	Individual Demand is shown by Individual demand schedule and individual demand curve.	Market Demand is shown by the market demand schedule and market demand curve.
Inter-Relationship	Individual demand is a component of Market demand.	It is the aggregation of individual demands.
Demand Curve	The individual demand curve is relatively steeper.	The market demand curve is relatively flatter.
Scope	It has a narrower scope as it is related to the tastes and preferences of a consumer only.	It has a broader scope as it is related to the tastes and preferences of all the consumers.
Represents	It represents different quantities of a commodity preferred by an individual at different prices in the market.	It represents different quantities of a commodity preferred by all consumers at different prices in the market.

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