what is the difference between demand and quantity demanded?

Answer 1

In terms of the demand curve, a change in quantity demanded is moving along an existing demand curve while a change in demand is a shift of the demand curve to the left or right.

A change in quantity demanded is brought about by a change in price while a change in demand is brought about by a change in income, tastes, change in prices of related goods, etc.

Answer 2

The meaning of quantity demanded and demand should not cause confusion. They mean two different things and have their own significance in the world of economics. They can be distinguished by knowing the exact meaning of each one of them.

In economics, demand is defined as the will to buy something that someone can afford. This means that the product -the person is interested in- should be within his financial reach. The desire to own something alone cannot be called a demand; the person should be able to pay for it too. On the other hand, if someone has money, but is not willing to pay for something, then it is not referred as a demand either. Only the combination of the willingness and the affordability will be considered as a demand.

The idea of a demand is very important in economical analysis. The proper understanding of demand can give someone a good command in his business tactics. From the business point of view, demand can indicate the possible sales that take place. If the provider or manufacturer knows that people can afford his goods, then he can consider them as customers.

Also, he needs to be sure that the people are willing to buy the product he is selling. Then, he can make plans for the future such as what type of product is to be made more often and the price should of the product. In this light, demand means definite sales in business. By knowing the approximate demand of a product, the supplier can be sure about the sales that are going to take place and he can calculate the profits or losses. A smart businessman would guess the demand before hand and would take steps accordingly.

The world of economics also uses demand to guess the situation of the market. They record demands in regular intervals. There is a common sense of relationship between demand and price. Generally, when price increases, demand decreases and oppositely when price decreases, demand increases. Economists put the price and demand on a curve, along with the regular time period on a graph. This curve is sloped down, showing how the increment of prices is affected by the demand in various instances.

Supply often comes with demand. Hence the phrase supply and demand become parallel. Generally, when demand rises, supply increases and when demand falls, supply is decreased.

Quantity demanded is another powerful term that can govern an investor’s activity. It indicates the sum of the amount of services or goods’ demand at any given time. It does not depend on the equilibrium of the market. Quantity of demand is calculated or estimated after the sales take place. This is done to get the business’ condition. The quantity demanded lies in the demand curve and can be determined by just assuming a point and calculating its intercepts, on the price and quantity planes respectively.

When some provides the information of the quantity of goods demanded, it can then affect the amount of goods being purchased. From the above discussion, it can be seen that demand is often controlled by the quantity demanded and regardless of their differences; they are both very important terms in economics and investments

Answer 3

Change in Demand vs. Change in Quantity Demanded

The demand curve represents the demand of a product by the people at a given quantity. The Y-axis gives hypothetical price values for the product, while the x-axis gives hypothetical values for the quantity demand for the product. The demand curve is usually downward sloping and is explained by the law of demand. The coordinates of any given point on the demand curve give a hypothetical quantity demanded, and the price for it (x-value is quantity demanded, y-value is the price of the product). The demand curve is created by the law of demand.

The quantity demanded increases as price for the product decreases, and quantity demand decreases as price increases. This is all explained by the Law of Demand. Price changes and quantity changes usually occur on the demand curve itself, either moving up or down. A change in quantity demanded occurs on the same demand curve, and it either goes up the curve or down. However, a change in demand is a shift of the entire demand curve to either the right or to the left on the graph.deldem.gif So when people say the demand for oil has decreased, its not that the demand for oil has decreased, it is that the quantity of oil demanded has decreased.



As seen in the diagram above, the move from line D1 to D2 is a change in demand. A change in quantity demanded can be seen by a movement along the D1 demand curve.

Answer 4

Quantity Demand - The demand changes because of the change in price this happens along the curve
Demand - The demand comes from the other than the changes in price (no change in price), this makes the curve shifted

Answer 5

demand means the desire quantity . demand means . what we purchase ? in demand the curve will be shift in which the price remain same but income will be change in other word the quantity demand is a amount of a product that consumer wish to perchase