What is Market Demand?
Market demand refers to how much consumers want your product for a given period of time . Market demand is the summation of the total individual's demand curves . Consider a shop that sells 1,000 pens on a daily basis. That means the shop has a daily demand of 1,000 pens. However, on weekends, there is an increase in the number of customers. ♦Market demand refers to the sum all individual demands for a particular good or service. ♦Graphically, individual demand curves are summed horizontally to obtain the market demand curve.