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Market:

at the end of the lecture you should be able to: - understand concept of ‘demand’(dd) - identify nature of demand curve - identify factors influencing demand - meaning of movement along dd curve . Market:. DEMAND. In the market buyers demand G &S.

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Market:

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  1. at the end of the lecture you should be able to:- understand concept of ‘demand’(dd) - identify nature of demand curve- identify factors influencing demand- meaning of movement along dd curve

  2. Market:

  3. DEMAND

  4. In the market buyers demand G &S Demand :The quantities of a good that consumers are willing and able to buy at different prices in a specified period

  5. Effective Demand: • When consumers’ desire to buy a good is backed up by an ability to pay for it. • They must have sufficient purchasing power

  6. Demand schedule

  7. Market demand for potatoes (monthly) Market demand (tonnes 000s) 700 Point Price (pence per kg) 20 A Price (pence per kg) A Demand fig Quantity (tonnes: 000s)

  8. Market demand for potatoes (monthly) Market demand (tonnes 000s) 700 500 Point Price (pence per kg) 20 40 A B Price (pence per kg) B A Demand fig Quantity (tonnes: 000s)

  9. Market demand for potatoes (monthly) Market demand (tonnes 000s) 700 500 350 Point Price (pence per kg) 20 40 60 A B C C Price (pence per kg) B A Demand fig Quantity (tonnes: 000s)

  10. Market demand for potatoes (monthly) Market demand (tonnes 000s) 700 500 350 200 Point Price (pence per kg) 20 40 60 80 A B C D D C Price (pence per kg) B A Demand fig Quantity (tonnes: 000s)

  11. Market demand for potatoes (monthly) Market demand (tonnes 000s) 700 500 350 200 100 Point Price (pence per kg) 20 40 60 80 100 E A B C D E D C Price (pence per kg) B A Demand fig Quantity (tonnes: 000s)

  12. Determinants of Demand Factors influencing demand

  13. Price :A change in price involves a movement along the demand curve

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