The difference between demand and quantity demanded
Valerie Nelson
Intro to Economics
Final Paper
3 November 2013
The difference between Demand and Quantity Demanded The Demand Curve on a graph is a representation of the Demand and the Demand Schedule. Demand by definition is the different amounts that a buyer would purchase at different prices when non price factors are held constant. The demand curve by definition is a line on a graph that illustrates a demand schedule. The demand curve will increase (to the right) or decrease (to the left) if taste, fashion, popularity, price of a related good, or income change. It is also the first step in creating the quantity demanded. Quantity demanded is just a point on the demand curve. Why does the demand curve not change by price? This is very confusing because in all logical thinking it makes sense that price would always change the demand. The answer is really simple, the demand curve essentially creates the potential price and quantity based on demand and the demand schedule. So there for cannot be changed by the price. When the demand curve increases or decreases it changes the potential price and quantity for a service or product. The difference between demand and quantity demanded is huge. In terms of the demand curve, a change in quantity demanded is moving along the already existing demand curve. A change in demand is a shift of the demand curve to the right or left. A change in the quantity demanded is brought on by change in price. If the price goes up less will be demanded, and if the price goes down more will be demanded. The quantity demanded is always changed by price and not quantity. When these changes occur on the demand curve, the demand curve itself does not change. Once the demand curve is set in place it stays until it is changed by its non-price factors. Then the quantity demanded changes in a direct reflection to the demand curve.
Intro to Economics
Final Paper
3 November 2013
The difference between Demand and Quantity Demanded The Demand Curve on a graph is a representation of the Demand and the Demand Schedule. Demand by definition is the different amounts that a buyer would purchase at different prices when non price factors are held constant. The demand curve by definition is a line on a graph that illustrates a demand schedule. The demand curve will increase (to the right) or decrease (to the left) if taste, fashion, popularity, price of a related good, or income change. It is also the first step in creating the quantity demanded. Quantity demanded is just a point on the demand curve. Why does the demand curve not change by price? This is very confusing because in all logical thinking it makes sense that price would always change the demand. The answer is really simple, the demand curve essentially creates the potential price and quantity based on demand and the demand schedule. So there for cannot be changed by the price. When the demand curve increases or decreases it changes the potential price and quantity for a service or product. The difference between demand and quantity demanded is huge. In terms of the demand curve, a change in quantity demanded is moving along the already existing demand curve. A change in demand is a shift of the demand curve to the right or left. A change in the quantity demanded is brought on by change in price. If the price goes up less will be demanded, and if the price goes down more will be demanded. The quantity demanded is always changed by price and not quantity. When these changes occur on the demand curve, the demand curve itself does not change. Once the demand curve is set in place it stays until it is changed by its non-price factors. Then the quantity demanded changes in a direct reflection to the demand curve.