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| 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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Gaurav Seth 5 years, 9 months ago
The power sector is m faced with some critical challenges. These are as follows:
i. The installed capacity of India to generate electricity is not sufficient enough to meet an annual economic growth of 7%.
ii. The State Electricity Boards (SEBs) that distribute electricity suffered a great loss of more than Rs.500 billion due to transmission and distribution of electricity.
iii. The wrong pricing of electricity like supply of electricity at subsidised rates to agricultural sector and theft of electricity has exaggerated the problems of power sector.
iv. The high power tariffs and prolonged power cuts is another challenge in the power sector.
v. The thermal power station faces the scarcity of the raw materials to generate electricity.
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