Final answer:
In economics, 'demand' refers to the relationship between different prices and the quantities consumers are willing to purchase, not just a specific quantity at a given price, which is 'quantity demanded'. The two concepts are illustrated by the demand curve, where demand is the entire curve and quantity demanded is a particular point on that curve.
Step-by-step explanation:
Demand vs. Quantity Demanded
When economists refer to demand, they are describing the relationship between a range of prices and the corresponding quantities that consumers are willing and able to purchase at those prices. This concept is typically illustrated by a demand curve or a demand schedule in economics. It represents a broader relationship and is not limited to a single point or price.
Conversely, quantity demanded refers to the specific amount of goods or services that consumers are willing to purchase at a particular price point on the demand curve. It represents a single point on the demand curve and changes as the price changes, which is different from demand itself.
The important difference to note is that demand is the entire curve representing the relationship between price and quantity, whereas quantity demanded is a point on that curve pertaining to a specific price.