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
Give detail explanation of Exchange Rate In most countries, exchange rate is expressed using foreign currency as base currency. For instance, in Denmark, USD exchange rate woul

Who is considered unemployed?

The following is the information from the national income accounts for a hypothetical country:  GNP                                                                  Rs. 5000.00

Project feasibility study is needed to make a decision whether the project proposal is technically and economically possible. After finalization of the project feasibility report b

Based on the recent success of Ontario tennis star Milos Raonic, Nike Canadawill produce new state of the art tennis racket with a red maple leaf on the strings. Mike expects to se

what is okun''s law ? In economics study, Okun's law also named after Arthur Melvin Okun is an empirically observed relationship relating among unemployment to losses in a specific

Which of the following equations is FALSE for perfectly competitive firms? A. Total cost = fixed cost + variable cost B. Marginal cost = change in total cost / change in quantity o

Society seeks for monopolists to operate at the point where _______ = MC which is the lowest point on the ATC curve (the most efficient). A) D B) ATC C) MR D) AVC

A clinic uses doctors and nurses optimally and is servicing the maximum number of patients given a limited annual payroll. The last doctor hired treated 1,600 extra patients in a y

Classical Quantity Theories Quantity theories have had a long history and a widespread use in economics. As originally formulated these were not explicitly designed as theories