Demand vs. Quantity Demanded
Main DifferenceIn the world of economics, demand and supply are the two of the most heard term as many of the main ideas of this discipline comes under the umbrella of these concepts. The law of demand is directly dependent on the law of demand, which unveils the reason and factors which make up the change in consumer’s demand. The factors income, price, substitutes, taste, and priorities let the consumer decide that what they demand for. At the same time, we observe that the necessity goods of life are cheaper, whereas the inessential or things related to luxury and comfort are usually expensive. Two of the economic terms demand and quantity demanded better explains the idea of the demand and the factors surrounding it. People often take these terms as synonyms, but in actual they are quite different terms which cover the different ideas totally. The ability of the consumer to purchase the goods or services he/she desired for is known as the demand. Conversely, the specific amount of goods and services demanded by the consumer with respect to the price in the marketplace is known as the quantity demanded.
Difference Between Demand and Quantity Demanded
Demand vs. Quantity Demanded
The term demand refers to the willingness of the consumer to purchase the good with respect to his/her affordability to pay for its price. On the other hand, quantity demanded tells about the customer’s demand for the specific amount of goods at a particular price at the given point in time.
Demand vs. Quantity Demanded
The concept of demand depends on the affordability and desire of the consumer to buy that product. Contrary to this, quantity demanded directly depends on the price offered for that amount of goods and services.
Demand vs. Quantity Demanded
If the discussion is about the increase or decrease in the demand, it refers to the change in demand, whereas if the discussion is about the expansion or contraction of the demand, it means the change in the quantity demanded.
Demand vs. Quantity Demanded
The changes or variations in demand come due to the factors like income, the price of substitutes, and the price of complementary goods. Conversely, when the change is due to the price, then it is the quantity demanded.
Demandnoun
The desire to purchase goods and services.
Prices usually go up when demand exceeds supply.Demandnoun
(economics) The amount of a good or service that consumers are willing to buy at a particular price.
Demandnoun
A forceful claim for something.
Modern society is responding to women's demands for equality.Demandnoun
A requirement.
His job makes many demands on his time.There is a demand for voluntary health workers in the poorer parts of Africa and Asia.Demandnoun
An urgent request.
She couldn't ignore the newborn baby's demands for attention.Demandnoun
An order.
Demandnoun
(electricity supply) More precisely peak demand or peak load, a measure of the maximum power load of a utility's customer over a short period of time; the power load integrated over a specified time interval.
Demandverb
To request forcefully.
I demand to see the manager.Demandverb
To claim a right to something.
The bank is demanding the mortgage payment.Demandverb
To ask forcefully for information.
I demand an immediate explanation.Demandverb
To require of someone.
This job demands a lot of patience.Demandverb
(legal) To issue a summons to court.
Demandnoun
the ability and desire to purchase goods and services;
the automobile reduced the demand for buggywhipsthe demand exceeded the supplyDemandnoun
an urgent or peremptory request;
his demands for attention were unceasingDemandnoun
a condition requiring relief;
she satisfied his need for affectionGod has no need of men to accomplish His workthere is a demand for jobsDemandnoun
the act of demanding;
the kidnapper's exorbitant demands for moneyDemandnoun
required activity;
the requirements of his work affected his healththere were many demands on his timeDemandverb
request urgently and forcefully;
The victim's family is demanding compensationThe boss demanded that he be fired immediatelyShe demanded to see the managerDemandverb
require as useful, just, or proper;
It takes nerve to do what she didsuccess usually requires hard workThis job asks a lot of patience and skillThis position demands a lot of personal sacrificeThis dinner calls for a spectacular dessertThis intervention does not postulates a patient's consentDemandverb
claim as due or just;
The bank demanded payment of the loanDemandverb
lay legal claim to
Demandverb
summon to court
Demandverb
ask to be informed of;
I demand an explanationComparison Chart
| Demand | Quantity Demanded |
| The term demand refers to the willingness of the consumer to purchase the good with respect to his/her affordability to pay for its price. | Quantity demanded tells about the customer’s demand for the specific amount of goods at a particular price at the given point in time. |
| Depends | |
| The concept of demand depends on the affordability and desire of the consumer to buy that product. | Quantity demanded directly depends on the price offered for that amount of goods and services. |
| Refers | |
| If the discussion is about the increase or decrease in the demand, it refers to the change in demand. | If the discussion is about the expansion or contraction of the demand, it means the change in the quantity demanded. |
| Factors bringing change | |
| The changes or variations in demand come due to the factors like income, the price of substitutes, and the price of complementary goods. | When the change is due to the price, then it is the quantity demanded. |
What is Demand?
The term demands refer to the willingness of the consumer to purchase the good with respect to his/her affordability to pay for its price. The idea of the demand in the economics world better tells about the reach and capability of a consumer to buy the specific product he/she is willing to buy at the given period. If the economic goods or service is out of the reach of the consumer than it can’t be classified as the demand, at the same time, if the consumer has ‘desire’ to buy the specific good, it alone doesn’t make it the demand of the consumer. When we talk about the demand, it should have both the ideas, willingness, and affordability described. It should be kept noted that the demand is dependent on three of the elements; namely desire to buy, affordability and willingness to utilize the bought goods or services. The term demand possesses the diversity in it following it; we also talk about the term market demand which tells that what majority of consumers demand in the market. Whenever we use the term ‘desire’ in the demanding field, it also narrates about the consumers need to purchase that specific product.
What is Quantity Demanded?
The term quantity demanded tells about the customer’s demand for the specific amount of goods at a particular price at the given point in time. The quantity demanded directly depends on the price offered for that amount of goods and services, irrespective of the market condition that whether the market is in the equilibrium state or not. The principle of quantity demanded refers to the amount of the specific goods or products offered at the particular price. The idea of the quantity demanded revolves around the concept of the law of demand, which tells that the price of the product and the demand are inversely proportional to each other. In other words, we can say that it exists on the idea that if the price of the product increases the demanded decrease and vice versa.
