Understanding Demand Analysis in Economics

Demand analysis in economics involves studying individual and market demand, demand schedules, determinants, the law of demand, exceptions, and factors influencing changes in demand. Dr. Sachin M. Prayag explains the concept of demand, including desire, willingness to pay, and ability to pay, with graphical representations and explanations on the downward-sloping demand curve.

• Economics
• Demand Analysis
• Law of Demand
• Dr. Sachin Prayag
• Market Demand

brihanab Follow

Uploaded on Oct 10, 2024 | 0 Views

Download Presentation

Please find below an Image/Link to download the presentation.

The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.

Presentation Transcript

1. Business Eco- Demand Analysis Meaning Definition Individual and Market Demand Schedule-Tabular and Graphical Types of demand Determinants Law of Demand Assumption Exceptions Changes in demand

2. Major Point of Confusion Concept of Demand Desire + Ability to pay + Willing to pay Law of Demand High price low demand Low price high demand Elasticity of Demand Due to how much change in price Dr.Sachin M.Prayag How much demand is changed

3. Meaning & Definition of Demand. Demand means desire to have something backed by willingness and ability to pay. Just desire has no meaning Only willingness is not sufficient Having ability to pay is not only factor Combination of these three is needed. Demand (in economy) = Desire + Willingness to buy + Ability to pay. Dr.Sachin M.Prayag

4. Meaning & Definition of Demand Demand is a consumers desire to purchase goods and service and willing to pay price for specific goods holding all other factors constant. Investopedia Dr.Sachin M.Prayag

5. Individual and Market Demand Price in Rs. Market Demand A+B+C Individual Demand (in Units) Consumer A 05 10 15 20 25 Consumer B 10 15 20 25 30 Consumer C 15 20 25 30 35 Dr.Sachin M.Prayag 20 16 12 8 4 30 45 60 75 90

6. Reasons for downward sloping Demand Curve Dr.Sachin M.Prayag

7. Reasons for downward sloping Demand Curve 1.Law of Diminishing marginal Utility 2. Income Effect Dr.Sachin M.Prayag

8. Reasons for downward sloping Demand Curve 3.Substitution Effect:- 4. Multipurpose Use :- Dr.Sachin M.Prayag

9. Reasons for downward sloping Demand Curve 5. New Consumers :- Dr.Sachin M.Prayag

10. Types of Demand 1. 2. Direct Demand Indirect/ Derived Demand 3. Joint Demand 4. Composite Demand 5. Competitive Demand Dr.Sachin M.Prayag

11. Types of Demand -1&2- Direct and Derived Demand Dr.Sachin M.Prayag

12. Types of Demand 3. Complementary /Joint Demand Dr.Sachin M.Prayag

13. Types of Demand 4. Composite Demand Dr.Sachin M.Prayag

14. Types of Demand 5. Competitive Demand Dr.Sachin M.Prayag

15. Drop your suggestions at - sachinprayag1@gmail.com Contact- 9881717278 OR Dr. Sachin M. Prayag. Assistant Professor. Department of Commerce, Govindlal Kanhaiyalal Joshi (Night) Commerce College, Latur. Thank You !!! Dr.Sachin M.Prayag