Demand, Macroeconomics

Demand:

Demand is quantity of a good buyer who wishes to purchase at each conceivable price.

The law of demand explains us that if the price of certain commodity increases, its quantity demanded will automatically decrease and vice-versa.

A demand schedule is the table which shows various combinations of the quantity demanded and the price.

A demand function is an equational representation of the demand as a function of its number of determinants.

A demand curve is the graph which obtains when the price is plotted against the quantity demanded.

Shifts in demand curve plotted in P-Qd space and are caused by the changes in any determinant of the demand other than price of the good/commodity itself.

Movements along the curve correspond to alterations in the variable on vertical axis.

 

Posted Date: 7/19/2012 3:29:08 AM | Location : United States







Related Discussions:- Demand, Assignment Help, Ask Question on Demand, Get Answer, Expert's Help, Demand Discussions

Write discussion on Demand
Your posts are moderated
Related Questions
Four aspects are interesting when we look at inflation data for Sweden During 1800s, when Sweden was primarily an agricultural society, deflation where almost as common as

Illustrate the circular flow of income and expenditure according to their models ( classical and keynesian)

In 2001, Puerto Rico enacted a law that requires specific labels on cement sold in Puerto Rico and imposes fines for any violations of these requirements. The law prohibits the sal

Differences between absolute advantage and comparative advantage?              Ans) Absolute benefit and comparative benefit are two basic concepts to international trade. Under

Explain about a model and use of it in economics. A model is a simplified demonstration of a real situation which is used to better understand real-life circumstances. The

Determinants of balance of payments: Broadly speaking, trend behaviour of merchandise exports and imports along with their  terms of  trade,  net invisible earnings and autono

The LM curve with inflation  We know that LM curve will shift upwards when P increases (presuming MS is constant). This is still true though we can also add that LM curve glid

Suppose a company is considering two investment projects. Both projects require an upfront expenditure of $30 million. The company estimates that the cost of capital is 10% and tha

Which of the following statements regarding the heckscher-ohlin model and Ricardian trade theory is TRUE? a. Both the Heckscher-Ohlin and Ricardian models are current, relevant,

what wil hapen to the real wage if the nominal wages and prices rise at the same rate per year?