What is difference between demand and quantity demanded?
The graph drawn with the the quantity of a product or service demanded represented on the x-axis and the price for the product or service represented on the y-axis is called the demand. Now, the standard term demand in economics refers to the complete graph. Demand changes due to many factors some of which could be a change in technology, change in the taste of the consumer, etc. When there is a change in demand the entire graph shifts.
Quantity demanded refers to the value on a single point of the demand graph. This is dependent on the price. For every value of price there is a corresponding value of demand on the demand curve. If one looks at the different points on the demand curve the quantity demanded for each price can be determined.
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