The demand for
various goods can be classified on the basis of the number of consumers of a
product, nature of the goods, interdependence of demand, nature of the use of
product etc.
There are five
major types of demand:
1) Individual Demand
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Market
demand
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Quantity of a commodity that an Individual
consumer is willing to purchase at a given price during a given period of
time is known as individual Demand. It refers to the demand for a commodity
by a single consumer or household, also known as household demand. For ex.
quantity of vegetables purchased per day by your mother is an individual demand
for vegetables.
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Total quantity of a commodity that all the
households are willing to buy at a given price during a given period of time.
For ex. quantity of vegetables purchased per day by all the buyers is market
demand for vegetables.
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2) Ex ante Demand
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Ex post Demand
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Refers to the amount of goods that consumer
want to or willing to buy during a particular time period. It is the planned
or desired amount of demand.
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Refers to the amount of goods that consumer
actually purchase during a specific period.
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For example. you want to buy a 4bhk house by the
end of this year, that is your ex ante demand but due to non availability you
end up buying a 3bhk house during this period, this is your actual purchase
or ex post demand. Thus what you wish to buy is not the same what you
actually purchase. Consumers may end up buying lesser or more quantity of
goods that they had planned to buy.
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