Market Demand

The quantity of a commodity that all consumers are willing and able to purchase at every possible price during a specific time period is known as Market Demand. 

Determinants of Market Demand

In addition to the factors affecting the individual demand for a commodity, there are other factors also that affect the market demand of the commodity. These factors are as follows:

1. Size and composition of population 

The size of the population in a country affect the market demand for a commodity. An increase in the population of a country increases the market demand for goods, and vice-versa. The composition of the population involves the male ratio, female ratio, children ratio, etc., which affects the demand for a commodity. For example, if the population of a country includes more men, then the demand for commodities used by men, such as shaving cream, etc., will also rise. 

2. Season and weather

The seasonal and weather conditions of a place also have an impact on the market demand for a commodity. For example, during the summer season, the demand for cotton clothes, ice cream, etc., increases, during the rainy season the demand for raincoats, umbrellas, etc., increases. 

3. Distribution of income

The way income is distributed in a country also impacts the demand for a commodity. If the income is distributed equally in a country, then the market demand for a commodity will also increase. However, if the income is unevenly distributed among the rich and poor, then the market demand for a commodity will be low. 

In economics, demand is the quantity of a good or service that a consumer is willing and able to purchase at different price levels available during a given time period. Although the demand is a desire of a consumer to purchase a commodity, it is not the same as the desire. Desire is just a wish of a consumer to purchase a commodity even though he is unable to buy it. However, demand is a consumer’s desire to purchase a commodity, provided he is willing to spend and has sufficient purchasing power. 
The demand for a commodity can be with respect to an individual or the entire market.