A market is a mechanism for brining together buyers and sellers so that they can exchange goods and services. The market process refers to the way buyers and sellers interact in making decisions that allocate our scarce resources. Demand is the quantity of a good or service that buyers are willing and able to buy at various prices. People often confuse demand with quantity demanded.
Demand refers to a list of quantities and prices.
Quantity demanded is the amount of a good or service that people are willing and able to buy at one specific price. When economists construct a demand schedule , they hold everything except the price constant and determine the quantities consumers will buy at all the possible prices. However, things other than price affect how much of a good or service people are willing to buy. These other determinants of demand are income, tastes, prices of related goods and services, consumers' expectations, and the number of buyers. The exchange rate is also a determinant of demand.