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Types of Demand Explained

This document discusses demand, including individual demand, factors affecting individual demand, market demand, and the law of demand. It defines demand as a desire backed by money and willingness to pay. Individual demand refers to the amount demanded by a single person, and is affected by price, income, tastes, expectations, and advertising. Market demand is the total quantity demanded in a market at various prices. The law of demand states that as price increases, quantity demanded decreases, and vice versa, assuming no other changes to factors like income, preferences, related good prices, or expectations.

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5 views10 pages

Types of Demand Explained

This document discusses demand, including individual demand, factors affecting individual demand, market demand, and the law of demand. It defines demand as a desire backed by money and willingness to pay. Individual demand refers to the amount demanded by a single person, and is affected by price, income, tastes, expectations, and advertising. Market demand is the total quantity demanded in a market at various prices. The law of demand states that as price increases, quantity demanded decreases, and vice versa, assuming no other changes to factors like income, preferences, related good prices, or expectations.

Uploaded by

Puja Dhar
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

DEMAND

Submitted by:- ROSHNA BHUTIA


MBA 1ST Year
ROLL NO :- 28
CONTENTS

 INTRODUCTION
 INDIVIDUAL DEMAND
 FACTORS AFFECTING INDIVIDUAL DEMAND
 MARKET DEMAND
 LAW OF DEMAND
 ASSUMPTIONS OF LAW OF DEMAND
INTRODUCTION

 Demand is the desire or want backed up


by money and willingness to pay .

 Demand = desire + money +willingness to


pay .
INDIVIDUAL DEMAND

 The total number of product or


commodity demanded by a particular
individual .
FACTORS AFFECTING INDIVIDUAL
DEMAND
 Price
 Income
 Test preference and habits
 People with different testes and habits
have preferences for different goods
 Consumer expectation
 Advertisement effect.
MARKET DEMAND

 A market demand schedule is a tabulation


of the quantity of a good that all
consumer in a market will purchase at a
given price .

 Generally there is an inverse relationship


between the price and the quantity
demanded .
LAW OF DEMAND
 The higher the price of a commodity the
smaller is the quantity demanded and
lower the price larger the quantity
demanded .
 Example :-
price of commodity Quantity demanded
5 100
4 200
3 300
2 400
1 500
ASSUMPTIONS OF LAW OF DEMAND

 No change in the consumers income


 No change in the consumers preferences
 No change in the fashion
 No change in the price of related goods
 No expectation of future price changes or
shortage .

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