What is the difference between Quantity Demanded vs Demand and Quantity Supplied vs Supply in Microeconomics?

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What is the difference between Quantity Demanded vs Demand and Quantity Supplied vs Supply in Microeconomics?

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Anonymous 0 Comments

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Anonymous 0 Comments

I presume you’ve seen supply and demand curves if you’re asking this question.

Demand is the whole curve. Quantity demanded is the particular volume demanded at a particular point on that curve.

In other words, if I asked you to describe the demand for a product, you should tell me about the _relationship_ between demand and price using terms like elasticity. If I asked you about the quantity demanded at a particular price point, you should instead give me the _exact number_ of units demanded at that price point.

The difference between supply and quantity supplied is the same.