Individual demand schedule and Market demand schedule. - Vidyadip

Question

Individual demand schedule and Market demand schedule.

✓

Answer

Individual demand schedule is a table showing the quantities of a commodity demanded by a consumer at different prices at a given time whereas market demand schedule is a table showing the quantity demanded by all consumers of a commodity at different prices at a given time.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "3 Marks Question" from Theory of consumer behaviour→Theory of consumer behaviour — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Explain any two causes of ‘increase’ in demand of a commodity.

What are conspicuous necessities and how it is different from conspicuous good?

Distinguish between normative economics and positive economics, with suitable examples.
OR
Distinguish between positive and normative economics. Give an example of each.

Explain the effect of fall in prices of other goods on the supply of a given good.

If price of a commodity falls from $₹ 50$ per unit to $₹ 45$ per unit, its supply falls from $1000$ units to $800$ units. Find out its elasticity of supply.

Explain what happens to the profits in the long run if the firms are free to enter the industry.

Draw in a single diagram the average revenue and marginal revenue curves of a firm which can sell any quantity of the good at a given price. Explain.

A producer can sell more of a good at the same price. Prepare a Total Revenue and Marginal Revenue schedule.

Why a higher Indifference Curve in an indifference map Prepresents a higher level of satisfaction?

Draw a demand curve with unitary price elasticity.