What is demands?

Demands refer to the desires or expectations that individuals, groups or societies have for certain goods or services. These demands can be categorized into two types: individual demands and market demands.

Individual demands are the desires of individual consumers for a particular good or service. These demands are influenced by factors such as personal preferences, income levels, and availability of the product.

Market demands, on the other hand, refer to the total demand for a particular good or service in a given market. This demand is influenced by a range of factors such as the level of competition, prices, and the overall economic climate.

In order to meet these demands, businesses must ensure that they are offering the products or services that consumers want, at the right price, and with the right level of quality. Meeting the demands of consumers is critical for business success, as it drives sales and growth, and helps to establish a loyal customer base.