Individual demand is essentially an individual, household, family or firm’s demand for a product or service. In other words, individual demand is the amount of a particular good an individual buys during a specific period – which could be a year, month, week or any other time period. Compared to market demand, individual demand’s scope is much narrower. However, if the market has only one individual, then the market and individual demand would be the same. Individual demand is influenced by multiple factors such as an individual’s gender, age, habits, income, preferences, expectations, advertising, and competing goods’ prices.