63 217
Assignments Done
99,3%
Successfully Done
In July 2018

Answer to Question #66470 in Microeconomics for reabetsoe

Question #66470
Explain the relationship between individual demand and market demand
Expert's answer
The market demand curve is made up of all the individual demand curves for a good. In general, the higher the price of an item, the less an individual consumer will buy. Microeconomics is concerned with smaller-scale individual consumer behavior. But since each consumer is different, one individual's behavior does not explain the entire market. Macroeconomics attempts to understand the total market in a broader sense.

Sources: http://smallbusiness.chron.com/relationship-between- individual-demand- curves-market-demand-curve- goods-20431.html

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions