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Effective demand is the term economists use to refer to the actual demand that exists in a market. In other words, effective demand exists when a buyer has both the desire and the ability to buy a product. So the effective demand for sports cars might be measured by the actual number of sports cars sold at a certain price during a particular period.
Demand: Demand is the global market value that expresses the purchasing intentions of consumers. The demand curve shows the quantity of a specific product that individuals or society are willing to buy according to its price and their income. This curve shows an inverse relationship between price and quantity demanded giving it a downward slope. The reason why this happens is known as the law of demand: ceteris paribus, and considering ordinary goods, the higher the price the lower the quantity demanded, and vice versa.