Difference between Desire and Demand:
Desire | Demand |
The wish to have something is desire. | The desire backed by ability to pay and willingness to pay is demand. |
There is no need of resources in desire. | There must be resources available to be demand. |
Desires can be limitless/ endless. | Demand are limited due to price of product, income constraint etc. |
Desire is not affected by determinants. | Demand is affected by determinants. |
Dersire can take place anywhere and any time. | Demand takes place only in particular place and time. |
Example; The begger wanting to have a car is a desire. | Example; A millionaire wanting to have a car is demand. |
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