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Demand

Demand. Demand is a relationship which shows the various quantities consumers are willing and able to buy of a good at different possible prices of a good. . Demand Schedule for Good Z. Price Quantity Demanded $1.00 50 2.00 40 3.00 30 4.00 20 5.00 10 6.00 0.

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Demand

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  1. Demand Demand is a relationship which shows the various quantities consumers are willing and able to buy of a good at different possible prices of a good.

  2. Demand Schedule for Good Z Price Quantity Demanded $1.00 50 2.00 40 3.00 30 4.00 20 5.00 10 6.00 0

  3. Demand Curve for Good Z 6 Price 5 4 3 2 D 1 60 0 10 20 30 40 50 Quantity Demanded

  4. Law of Demand Price and quantity demanded are inversely related.

  5. Determinants of demand • Number of Buyers • Prices of Other Goods • Incomes of the Buyers • Tastes and Preferences • Subsidies and Taxes • Expectations

  6. Change in Quantity Demanded Move Along Same Demand Curve 6 Price 5 A 4 B 3 2 D 1 60 0 10 20 30 40 50 Quantity Demanded

  7. Change in the Demand Curve (Increase) 6 Price 5 A B 4 3 2 D2 1 D1 60 0 10 20 30 40 50 Quantity Demanded

  8. Change in the Demand Curve (Decrease) 6 Price 5 4 A B 3 2 D1 1 D2 60 0 10 20 30 40 50 Quantity Demanded

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