What is demand?
Demand exists only when there is willingness and ability to buy a product (goods or service) or resource. It is a relationship between the quantity demanded and price of a product or resource. To have a demand for an item means: you want it; you can afford it; and you have made a definite plan to buy it.
Determinants of Demand include; Price of the good (x); Price of related/substitute goods (y) and complementary goods (z); Income (Normal goods or abnormal or given goods); Population; Tastes & preferences; and Future expectations (on all of the above)
a) Deriving an Individual Demand Curve (Due to changes in price of good x)