Showing posts with label Demand. Show all posts
Showing posts with label Demand. Show all posts

Show the market demand for a commodity with example and explanation.


Market Demand For a Commodity : The market demand for a commodity means the total demand for a commodity made by all the individuals in the market. The market demand for a commodity gives the alternative amounts of a commodity demanded per time period, at various alternative prices, by all the individuals in the market. It depends on all the factors as the individuals demand depends on. It is obtained by the horizontal summation of all the individuals demand curves for the commodity. ... 

What is shift in demand curve? Explain with example.


Shift in Demand Curve : Shift in demand curve means the change in demand curve. This change will have to be for the change in ceteris paribus. That is when the price of a commodity remains constant and the other things which can affect the demand of the commodity changes, a shift can be found in the demand curve. This shift may be either leftward or rightward, meaning the decrease in demand and increase in demand respectively. ... 

Explain the law of negatively sloped demand curve.


Law of Negatively Sloped Demand Curve:

            First, obtain the demand schedule; the formula is,

                                                Qdx = f(Px)

            Considering, an individual demand function for a commodity X is given by,

                                                Qdx =8 - Px    cet.par.

            Here, Qdx  is the quantity demanded and Px is the price of X commodity.
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Draw and explain a demand curve by obtaining a demand schedule.

Obtaining Demand Schedule:

To obtain the demand schedule the formula is,

                                                Qdx = f(Px)

Considering, an individual demand function for a commodity X is given by,

                                                Qdx =8 - Px    cet.par.

Here, Qdx  is the quantity demanded and Px is the price of X commodity.

What is / Define Demand, Demand Schedule and Demand Curve.

Demand:  

The desire for a commodity of an individual or a group will be called their demand when they are able to pay for that commodity. That is demand is desire with account to pay.