{"id":7988,"date":"2021-10-10T14:27:25","date_gmt":"2021-10-10T08:57:25","guid":{"rendered":"https:\/\/scholarsclasses.com\/blog\/?p=7988"},"modified":"2025-10-09T12:51:32","modified_gmt":"2025-10-09T07:21:32","slug":"what-is-demand-schedule","status":"publish","type":"post","link":"https:\/\/scholarsclasses.com\/blog\/what-is-demand-schedule\/","title":{"rendered":"What is Demand Schedule? | Individual and Market Demand Curve"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d7b640be1e4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d7b640be1e4\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/scholarsclasses.com\/blog\/what-is-demand-schedule\/#What_is_Demand_Schedule\" >What is Demand Schedule?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/scholarsclasses.com\/blog\/what-is-demand-schedule\/#Meaning_of_Demand\" >Meaning of Demand<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/scholarsclasses.com\/blog\/what-is-demand-schedule\/#Definition_of_Demand\" >Definition of Demand<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/scholarsclasses.com\/blog\/what-is-demand-schedule\/#What_is_Demand_Schedule-2\" >What is Demand Schedule?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/scholarsclasses.com\/blog\/what-is-demand-schedule\/#Demand_Schedule\" >Demand Schedule<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/scholarsclasses.com\/blog\/what-is-demand-schedule\/#Individual_Demand_Schedule\" >Individual Demand Schedule<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/scholarsclasses.com\/blog\/what-is-demand-schedule\/#Individual_Demand_Curve\" >Individual Demand Curve<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/scholarsclasses.com\/blog\/what-is-demand-schedule\/#Market_Demand_Schedule\" >Market Demand Schedule<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/scholarsclasses.com\/blog\/what-is-demand-schedule\/#Market_Demand_Curve\" >Market Demand Curve<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading has-text-align-center has-black-color has-text-color\"><span class=\"ez-toc-section\" id=\"What_is_Demand_Schedule\"><\/span>What is Demand Schedule?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/What-is-Demand-Schedule--1024x576.jpg\" alt=\"What is Demand Schedule \" class=\"wp-image-8029 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/What-is-Demand-Schedule--1024x576.jpg 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/What-is-Demand-Schedule--300x169.jpg 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/What-is-Demand-Schedule--768x432.jpg 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/What-is-Demand-Schedule--1536x864.jpg 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/What-is-Demand-Schedule--640x360.jpg 640w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/What-is-Demand-Schedule-.jpg 1920w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;\" \/><figcaption class=\"wp-element-caption\">What is Demand Schedule?<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Meaning_of_Demand\"><\/span>Meaning of Demand<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>In ordinary language, demand means a desire. Desire means an urge to have something.<\/strong><\/p>\n\n\n\n<p><strong>In Economics, demand means a desire which is backed by a willingness and ability to pay.<br><\/strong>For example, if a person has the desire to purchase a television set but does not have adequate purchasing power then it will be simply a desire and not a demand.<br>Thus, demand is an effective desire. All desires are not <a href=\"https:\/\/www.nios.ac.in\/media\/documents\/SecEcoCour\/English\/Chapter-9.pdf\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.nios.ac.in\/media\/documents\/SecEcoCour\/English\/Chapter-9.pdf\" rel=\"noreferrer noopener\">demand<\/a>.<\/p>\n\n\n\n<p>In short,<br><strong>Demand = Desire + Willingness to Purchase + Ability to Pay.<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/microeconomic-definition\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/microeconomic-definition\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Microeconomic Definition | Historical Review of Microeconomics<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/scope-of-microeconomics\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/scope-of-microeconomics\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Scope Or Nature of Microeconomics<\/strong><\/a><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/features-of-microeconomics\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/features-of-microeconomics\/\" target=\"_blank\" rel=\"noreferrer noopener\">Features of Microeconomics<\/a><\/strong><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/importance-of-microeconomics\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/importance-of-microeconomics\/\" target=\"_blank\" rel=\"noreferrer noopener\">Importance of Microeconomics<\/a><\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Definition_of_Demand\"><\/span>Definition of Demand<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>According to Benham, \u201c<strong>the demand for anything at a given price is the amount of it, which will be bought per unit of time at that price.<\/strong>\u201d<br>Thus, following are the features of demand :<br>1) Demand is a relative concept.<br>2) Demand is essentially expressed with reference to time and price.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Demand_Schedule-2\"><\/span><strong>What is Demand Schedule?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Demand_Schedule\"><\/span><strong>Demand Schedule<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>The demand schedule is a tabular representation of the functional relationship between price and quantity demanded for a particular commodity. <br><strong>A demand schedule may be either an individual demand schedule or a market demand schedule.<\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Individual_Demand_Schedule\"><\/span>Individual Demand Schedule<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p><strong>Individual demand is the quantity of a commodity demanded by a consumer at a given price during a given period of time.<\/strong><\/p>\n\n\n\n<p>An individual demand schedule is a tabular representation showing different quantities of commodities that an individual consumer is prepared to buy at various prices over a given period of time.<\/p>\n\n\n\n<p>This can be explained with the help of the following individual demand schedule.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Price of commodity<br>\u2018Y\u2019 ( Rs )<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Quantity demanded of<br>commodity \u2018Y\u2019 (in kgs)<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">20<\/td><td class=\"has-text-align-center\" data-align=\"center\">2<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">16<\/td><td class=\"has-text-align-center\" data-align=\"center\">4<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">12<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">08<\/td><td class=\"has-text-align-center\" data-align=\"center\">8<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">04<\/td><td class=\"has-text-align-center\" data-align=\"center\">10<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><strong>Individual demand schedule<\/strong><\/figcaption><\/figure>\n\n\n\n<p>The above table shows different quantities of commodity \u2018Y\u2019 purchased by an individual consumer at various prices. It can be observed that less quantity of commodity is demanded at rising prices and more quantity of commodity is demanded at falling prices. <strong>It indicates an inverse relationship between price and quantity<br>demanded.<\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Individual_Demand_Curve\"><\/span>Individual Demand Curve<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>The individual demand curve is a graphical representation of the individual demand schedule.<br>The below fig. represents an individual demand curve<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"452\" height=\"360\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/image-1.png\" alt=\"Individual Demand Curve\" class=\"wp-image-8025 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/image-1.png 452w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/image-1-300x239.png 300w\" data-sizes=\"(max-width: 452px) 100vw, 452px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 452px; --smush-placeholder-aspect-ratio: 452\/360;\" \/><\/figure>\n\n\n\n<p>In the above fig., X-axis represents quantity demanded and Y-axis represents the price of the commodity. The demand curve DD slopes downward from left to right, indicating an inverse relationship between price and quantity demanded.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Market_Demand_Schedule\"><\/span>Market Demand Schedule<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p><strong>Market demand is the total demand for a commodity from all the consumers at a given price during a given period of time<\/strong>. Market demand schedule is a tabular representation showing different quantities of commodity which all consumers are prepared to buy at various prices over a given period of time. <\/p>\n\n\n\n<p>It is obtained by a horizontal summation of the demand of all consumers at various prices. It also indicates an inverse relationship between price and quantity demanded.<\/p>\n\n\n\n<p>This can be explained with the help of following market demand schedule.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"516\" height=\"204\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/Market-Demand-Schedule.png\" alt=\"Market Demand Schedule\" class=\"wp-image-8021 lazyload\" style=\"--smush-placeholder-width: 516px; --smush-placeholder-aspect-ratio: 516\/204;width:479px;height:189px\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/Market-Demand-Schedule.png 516w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/Market-Demand-Schedule-300x119.png 300w\" data-sizes=\"(max-width: 516px) 100vw, 516px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" \/><\/figure>\n\n\n\n<p>The above table shows different quantities of commodity Y purchased by different consumers (L, M, N) at various prices. It can be observed that less quantity of commodity is demanded at rising prices and more quantity of commodity is demanded at falling prices. Thus, there is an inverse relationship between price and quantity demanded.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Market_Demand_Curve\"><\/span>Market Demand Curve<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Graphically, the market demand curve is a horizontal summation of individual demand curves. It is based on the market demand schedule.<br>The below fig. represents the market demand curve<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"380\" height=\"362\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/image-2.png\" alt=\"Market Demand Curve\" class=\"wp-image-8027 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/image-2.png 380w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/10\/image-2-300x286.png 300w\" data-sizes=\"(max-width: 380px) 100vw, 380px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 380px; --smush-placeholder-aspect-ratio: 380\/362;\" \/><\/figure>\n\n\n\n<p>In the figure, X-axis represents market demand and Y-axis represents the price of the commodity. The market demand curve \u2018DD\u2019 slopes downward from left to right, indicating an inverse relationship between price and market demand.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/importance-of-law-of-diminishing-marginal-utility\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/importance-of-law-of-diminishing-marginal-utility\/\" target=\"_blank\" rel=\"noreferrer noopener\">Importance of Law of Diminishing Marginal Utility<\/a><\/strong><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/utility-in-economics-meaning-concepts\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/utility-in-economics-meaning-concepts\/\" target=\"_blank\" rel=\"noreferrer noopener\">Utility in Economics ( Concepts of Utility )<\/a><\/strong><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/features-of-utility\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/features-of-utility\/\" target=\"_blank\" rel=\"noreferrer noopener\">Features of Utility<\/a><\/strong><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/types-of-utility\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/types-of-utility\/\" target=\"_blank\" rel=\"noreferrer noopener\">Types of Utility<\/a><\/strong><\/li>\n<\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":8029,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[10,1],"tags":[3160],"class_list":["post-7988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-educational-blogs","category-misc","tag-what-is-demand-schedule"],"_links":{"self":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/7988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/comments?post=7988"}],"version-history":[{"count":5,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/7988\/revisions"}],"predecessor-version":[{"id":39607,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/7988\/revisions\/39607"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media\/8029"}],"wp:attachment":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media?parent=7988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/categories?post=7988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/tags?post=7988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}