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
In 1 to 2 sentences respond to the following comment. "Pollution restrictions will reduce gross domestic product and therefore hurt the economy."

Trade barriers come in a lot of forms. Quota is one. This is when a country sets a limit to the imported products. This is completed for a number of reasons. One is due to the gove

Q. Nominal interest rate and expected inflation? When we have inflation, we can't, of course, presume that expected inflation is zero. So real interest rate will no longer be e

A grocery store manager would like to have an idea concerning the average amount milk the store sells per day. In a sample of 70 days, the average amount number of gallons sold was

When is a balanced budget presented?

This problem involves the question of computing change for a given coin system. A coin system is defined to be a sequence of coin values v1 (a) Let c ≥ 2 be an integer constant

what is the relationship betwen growth and poverty? either it is positive or negative?

casual factors of the traditional business cycle and its effect on sectors of the economy?

For you and other Mexican farmer-ranchers rice is a substitute good for corn as basic food stuff for human consumption. If the market price for feed corn and rice were the same bef

Suppose that the desired capital stock is given as: K* = 0.3Y/i r Where Y = GDP, and i r is the real interest rate.  Suppose further that Y = $5 trillion and that i r