Distinguish between demand by an individual consumer and market demand of a good.

Demand by in individual refers to the quantity of a good that the consumer is willing to buy at a price during a period of time. While market demand refers to the quantity of a good the consumers of that good are willing to buy at a price during a period of time.

The factors leading to fall in demand by an individual consumers are:

(i) Rise in own price of the normal good.

(ii) Fall in the price of substitute good.

(iii) Rise in the price of complementary good.

(iv) Fail in the income of the consumers in case of normal good.

(v) Rise in income of the consumers in case of an inferior good.

(vi) Decline in taste for the good.