The individual demand is the demand of one individual or firm. It represents the quantity of a good that a single consumer would buy at a specific price point at a specific point in time. While the term is somewhat vague, individual demand can be represented by the point of view of one person, a single family, or a single household.
Derived demand occurs when there is a change of customers' demand on particular product and produces have to buy new production equipment, which means that the change in consu … mer demand for a product affects demand for all firms involved in the production of that product.
Nature of demand for durable goods is of special interest in demand theory. Demand for durable goods is more volatile than the demand for non-durable goods. In economics durable goods are defined as those goods that go on yielding services to the consumers over a number of periods in future.
Short-term and Long-term Demand Short-term demand refers to the demand for goods that are demand over a short period. In this category fall mostly the fashion consumer goods, goods of seasonal use and inferior substitutes during the scarcity period of superior goods.