The difference between individual and aggregate demand is
A)Individual demand is the total demand of all the individuals in a market
B)In the aggregate demand,each point represents a single consumer's different values for a single unit of the good
C)In the aggregate demand,each point represents a consumer group's value of the good
D)All of the above

Question

​The difference between individual and aggregate demand is
A)​Individual demand is the total demand of all the individuals in a market
B)In the aggregate demand,each point represents a single consumer's different values for a single unit of the good
C)In the aggregate demand,each point represents a consumer group's value of the good
D)​All of the above

Quizplus · Accepted Answer

Individual demand refers to the demand of a single consumer or household, while aggregate demand refers to the demand of a group of consumers. However, in the aggregate demand curve, each point represents the value of the good to the entire group, not to individual consumers. Therefore, option C is the most accurate answer. Option A is incorrect because individual demand only refers to one consumer, not the total demand of all individuals in a market. Option B is incorrect because each point on the aggregate demand curve represents the value of the good to the whole group, not just one consumer's different values.

​The Difference Between Individual and Aggregate Demand Is

The Difference Between Individual and Aggregate Demand Is