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Demand
 Quantity of the commodity that a consumer
is able and willing to purchase in a given
period and at a given price. Quantity of the
commodity that a consumer is able and
willing to purchase in a given period and at
a given price.
 It is a tabular representation which shows
the relationship between price of the
commodity and quantity purchased.
It is a graphical representation of
demand schedule
Demand by an individual
consumer
 Price of the commodity itself
 Income of the consumer
 Price of related goods
 Taste and Preference
 Expectations of future price change
Dx = f( Px, Y, Pr, T)
 Increase in the price of one good causes
increase in demand for other good. E.g., tea
and Coffee
Demand
 Increase in the price of one good causes
decrease in demand for other good. E.g:-
Petrol and Car
Demand
 Goods which are having positive relation
with income. It means when income rises,
demand for normal goods also rises
 Goods which are having negative relation
with income. It means less demand at higher
income and vice versa
 Other things remains constant, demand of a
good falls with rise in price and vice versa .
 Changes in Demand
1) Change in Quantity Demanded (Movement
along the same demand curve)
2) Change in Demand (Shifts in demand)
 Change in Quantity Demanded: -
 Demand changes due to change in price of
the commodity alone, other factors remain
 constant; are of two types;
A) Expansion of demand : More demand at a
lower price
B) Contraction of demand : Less demand at a
higher price
Demand
 Demand changes due to change in factors
other than price of the commodity, are of
 two types
A) Increase in demand:- more demand due to
change in other factors, price remaining
constant.
B) Decrease in demand:- less demand due to
change in other factors, price remaining
constant.
 Increase in Income.
 2. Increase/ favorable change in taste and
preference.
 3. Rise in price of substitute good.
 4. Fall in price of complementary good.
 Decrease in Income.
 2. Unfavorable/Decrease in taste and
preference
 3. Decrease in price of substitute good.
 4. Rise in price of complementary good
Demand

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Demand

  • 2.  Quantity of the commodity that a consumer is able and willing to purchase in a given period and at a given price. Quantity of the commodity that a consumer is able and willing to purchase in a given period and at a given price.
  • 3.  It is a tabular representation which shows the relationship between price of the commodity and quantity purchased.
  • 4. It is a graphical representation of demand schedule
  • 5. Demand by an individual consumer
  • 6.  Price of the commodity itself  Income of the consumer  Price of related goods  Taste and Preference  Expectations of future price change
  • 7. Dx = f( Px, Y, Pr, T)
  • 8.  Increase in the price of one good causes increase in demand for other good. E.g., tea and Coffee
  • 10.  Increase in the price of one good causes decrease in demand for other good. E.g:- Petrol and Car
  • 12.  Goods which are having positive relation with income. It means when income rises, demand for normal goods also rises
  • 13.  Goods which are having negative relation with income. It means less demand at higher income and vice versa
  • 14.  Other things remains constant, demand of a good falls with rise in price and vice versa .
  • 15.  Changes in Demand 1) Change in Quantity Demanded (Movement along the same demand curve) 2) Change in Demand (Shifts in demand)
  • 16.  Change in Quantity Demanded: -  Demand changes due to change in price of the commodity alone, other factors remain  constant; are of two types; A) Expansion of demand : More demand at a lower price B) Contraction of demand : Less demand at a higher price
  • 18.  Demand changes due to change in factors other than price of the commodity, are of  two types A) Increase in demand:- more demand due to change in other factors, price remaining constant. B) Decrease in demand:- less demand due to change in other factors, price remaining constant.
  • 19.  Increase in Income.  2. Increase/ favorable change in taste and preference.  3. Rise in price of substitute good.  4. Fall in price of complementary good.
  • 20.  Decrease in Income.  2. Unfavorable/Decrease in taste and preference  3. Decrease in price of substitute good.  4. Rise in price of complementary good