DEMAND
ITM UNIVERSITY
ECONOMICS
DETERMINANTS OF DEMAND
SUBMITTED TO: Miss. Surti Dahuja
SUBMITTED BY : SHUMYLA
KHAN,
KINNI
KANSANA,
SAGAR VYAS,
Shibu lijack
DEMAND
“Demand for a commodity refers to the quantity of the commodity which an individual consumer or a household is willing to purchase per unit of time at a particular price”. Demand for a commodity implies –
a) Desire of the consumer to buy the product,
b) His willingness to buy the product, and
c) Sufficient purchasing power in his pocket to buy the product
There are certain commodities which are generally demanded by individual consumers, e.g., footwear etc. However there are commodities which are demanded by households, like refrigerator etc. When we are dealing with a good demanded by individual, we call it individual demand, while if the good is demanded by household we call it household demand. When we study demand for a commodity by both individuals and households, we call it market or aggregate demand.
QUANTITY DEMANDED AND DEMAND SCHEDULE
Quantity demanded is the amount (number of units) of a product that a household is ready to but at different possible prices of a commodity.
Demand Schedule
Demand Schedule : is a table showing different quantities of a commodity which an individual or all the consumers of that commodity in the market are ready to buy at different possible prices of that commodity.
INDIVIDUAL DEMAND SCHEDULE
Individual demand schedule is a table showing different quantities of goods which an individual consumer of an commodity is ready to buy at different possible prices of that commodity.
PRICE
5
4
3
2
1
QUANTITY(demanded by A)
24
40
55
60
98
INDIVIDUAL DEMAND CURVE
Individual demand curve is the graphical representation of individual demand schedule. MARKET DEMAND SCHEDULE
A table showing different quantities of goods which all the consumers of the commodity are ready to buy at different possible prices of that commodity.
Price
5
4
3
2
1
Quantity demanded by A
4
7
10
15
ECONOMICS
DETERMINANTS OF DEMAND
SUBMITTED TO: Miss. Surti Dahuja
SUBMITTED BY : SHUMYLA
KHAN,
KINNI
KANSANA,
SAGAR VYAS,
Shibu lijack
DEMAND
“Demand for a commodity refers to the quantity of the commodity which an individual consumer or a household is willing to purchase per unit of time at a particular price”. Demand for a commodity implies –
a) Desire of the consumer to buy the product,
b) His willingness to buy the product, and
c) Sufficient purchasing power in his pocket to buy the product
There are certain commodities which are generally demanded by individual consumers, e.g., footwear etc. However there are commodities which are demanded by households, like refrigerator etc. When we are dealing with a good demanded by individual, we call it individual demand, while if the good is demanded by household we call it household demand. When we study demand for a commodity by both individuals and households, we call it market or aggregate demand.
QUANTITY DEMANDED AND DEMAND SCHEDULE
Quantity demanded is the amount (number of units) of a product that a household is ready to but at different possible prices of a commodity.
Demand Schedule
Demand Schedule : is a table showing different quantities of a commodity which an individual or all the consumers of that commodity in the market are ready to buy at different possible prices of that commodity.
INDIVIDUAL DEMAND SCHEDULE
Individual demand schedule is a table showing different quantities of goods which an individual consumer of an commodity is ready to buy at different possible prices of that commodity.
PRICE
5
4
3
2
1
QUANTITY(demanded by A)
24
40
55
60
98
INDIVIDUAL DEMAND CURVE
Individual demand curve is the graphical representation of individual demand schedule. MARKET DEMAND SCHEDULE
A table showing different quantities of goods which all the consumers of the commodity are ready to buy at different possible prices of that commodity.
Price
5
4
3
2
1
Quantity demanded by A
4
7
10
15