The previous demand is not considered a component of demand.
Demand simply means the willingness of the consumer to buy goods and services without hesitation and to pay a price for them. In simple terms, demand refers to the amount of goods that customers are willing and ready to buy at various prices during a given period of time. Preferences and choices are key drivers of demand and can be described in terms of costs, benefits, returns and other variables.
The amount of goods that customers choose depends modestly on the cost of the goods, the cost of other goods, the income of the customer and his tastes and inclinations. The amount of goods that the customer wants to buy, who can afford the prices offered by the goods and the tastes and preferences of the customer, is called the demand for the goods.
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