WELCOME TO YOU I heartily welcome you to read this post on Concepts of "Demand". Let s start from the term demand. ------------------------------ Demand Generally demand refers to a common desire. But here in Economics Demand refers to a desire which is formed or backed up by the willingness and ability to pay sum of the of money for some quantity of goods. simple, Demand is a desire which can be caused by ability to pay and willingness to purchase. Demand schedule As we've discussed in Indifference schedule, Demand schedule is also a data in tabular form or tabulation which shows the functional relationship (Mathematical) between the quantity of goods/commodities demanded and their prices. The demand schedule is again categorised into: Individual demand schedule: It is the number of purchases which are made by an individual with given income (total purchases with his income). Market demand schedule: It is a data which shows total number of goods purchased by different in...