Market demand refers to the total quantity of a good or service that all consumers are willing and able to purchase at various price levels in a specific market. It is the sum of individual demand curves.
Related terms
Individual Demand: The quantity of a good or service that an individual consumer is willing and able to buy at different prices.
Law of Demand: The inverse relationship between the price of a good and the quantity demanded, assuming other factors remain constant.
Substitutes: Goods or services that can be used in place of one another, such as Coke and Pepsi.