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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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The tanpura (तानपूरा; or tambura, tanpuri) is a long-necked plucked string instrument, originating from India, found in various forms in Indian music. It does not play melody but rather supports and sustains the melody of another instrument or singer by providing a continuous harmonic bourdon or drone.
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