02-25-2015, 09:27 AM
What is Demand ??
Demand is the quantity of goods or service that consumers are willing and able to purchase at various prices during a period of time.
Demand Schedule
The schedule which, while other things remaining constant, expresses the relation between different quantities of the commodity demanded at different prices is demand schedule.
Demand Schedule is of two types :
Demand Curve
It is a graphic representation of demand schedule expressing the relationship between different quantities demanded at different possible prices of commodity.
Demand curve slopes downwards from left to right indication that at higher price demand is less, and at lower price demand is more.
Demand is the quantity of goods or service that consumers are willing and able to purchase at various prices during a period of time.
Demand Schedule
The schedule which, while other things remaining constant, expresses the relation between different quantities of the commodity demanded at different prices is demand schedule.
Demand Schedule is of two types :
Individual Demand Schedule :-Individual demand schedule is defined as the quantities of a given commodity which a consumer will buy at different prices.
Market Demand Schedule:- Market demand schedule is one that shows total demand of all the consumers in the market at different prices of the commodity. Demand Curve
It is a graphic representation of demand schedule expressing the relationship between different quantities demanded at different possible prices of commodity.
Demand curve slopes downwards from left to right indication that at higher price demand is less, and at lower price demand is more.