DEMAND FUNCTION
IT SHOWS RELATIONSHIP BETWEEN QUANTITY DEMANDED FOR A PARTICULAR
COMMODITY & THE FACTORS INFLUENCING IT.
Individual Demand Function
o It is respect to One Consumer. It refers
to the functional relationship b/w
individual demand and the factors
affecting individual demand.
o It is expressed as Dx = f(Px, Pr, Y, T, F)
Where,
Dx=Demand for commodity x
Pr= Prices of related goods
Px= Price of the given commodity x
Y= Income of the consumer
T= Tastes and performances
F= Expectations of change in price in
future
Market Demand Function
It is respect to All Consumers in the
market.It refersb to the
functional relationship b/w
market demand and the factors
affecting market demand.
It is expressed as Dx= (Px, Pr, Y, T,
F, P0, S, D)
Where, as same as IDF and
S= Season and weather
Po= Size & composition of poplution
D= Distribution of income
DEMAND SCHEDULE
IT IS A TABULAR STATEMENT SHOWING VARIOUS QUANTITIES OF A COMMODITY
BEING DEMANDED AT VARIOUS LEVELS OF PRICE, DURING A GIVEN PERIOD OF TIME.
IT SHOWS RELATIONSHIP B/W PRICE OF COMMODITY AND ITS QUANTITY DEMAND..

Individual Demand Schedule Market Demand Schedule

PRICE (IN RS.) QUANTITY(IN PRICE HOUS HOUS QUAN

UNITS) E. A E. B TITY
5 1 5 1 2 3
4 2 4 2 3 5
3 3 3 3 4 7
2 4 2 4 5 9

1 5 1 5 6 11

If price increases then quantity decreases and vice.versa