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Demand
O › M d antity demanded of a good
À Specific amo nt ho ehold wo ld chooe to b y over
ome time period, given
O A partic lar price that m t be paid for the good
O All other contraint on the ho ehold
¦ ½  d antity demanded (or d antity demanded)
i the pecific amo nt of a good that all b yer in the
market wo ld chooe to b y over ome time period,
given
À A partic lar price they m t pay for the good
À All other contraint on ho ehold
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DEMAND ANALYSIS
Demand analyi i eential for a b ine firm in the following way

 Demand analyi i red ired to identify and mea re the force that
determine ale
2 Extent of prod ction and cot allocation depend pon demand analyi
 Demand analyi i eential for pricing and inventory holding
 Demand analyi help in ale forecating and profit planning
 New prod ct policy and advertiement policy cannot be drawn witho t the
analyi of demand
 eearch and development trategy cannot be framed witho t demand
analyi
 Demand analyi i the bai of tracing the trend of the firm͛ competitive
analyi
rACTOS ArrECTING DEMAND

rice of the commodity
2
rice expectation

rice of related good
 Income of the con mer

op lation
 Tate and
reference
 Ditrib tion of Income
 Dicoverie polythene bag
 Trade activity b ine cycle, trade agreement
 Climate and weather
 Money  pply
2 Saving
 ed ction in Taxe
 antity Demanded
O Implie a choice
À How m ch ho ehold wo ld like to b y when they take into acco nt
the opport nity cot of their deciion
O I hypothetical
À Make no a mption abo t availability of the good
À How m ch wo ld ho ehold want to b y, at a pecific price, given
real world limit on their pending power
O Stree price
À
rice of the good i one variable among many that infl ence d antity
demanded
À We ll a me that all other infl ence on demand are held contant,
o we can explore the relationhip between price and d antity
demanded

The Law of Demand
O The price of a good rie and everything ele
remain the ame, the d antity of the good
demanded will fall
À The word, everything ele remain the ame are
important
O In the real world many variable change im ltaneo ly
O However, in order to ndertand the economy we m t
firt ndertand each variable eparately
O Th  we a me that, everything ele remain the
ame, in order to ndertand how demand react to
price


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Demand i deire pl  ability to p rchae a thing
There are even eential of Demand
 Deire for a commodity
2 Capacity to pay for it
 Willingne to pay for it
  antity bo ght and old
 At a given price
 At a given time
 At a given place


The Demand Sched le
O Demand ched le
À A lit howing the d antity of a good that
con mer wo ld chooe to p rchae at different
price, with all other variable held contant
O Demand VS  antitie demanded
demand i the entire relationhip between price and
d antity
d antitie demanded are pecific amo nt of good
b yer want to b y


The Demand Sched le

rice  antity


 2
 2
 
 
The Demand C rve

rice

DC

o  antity
The Demand C rve
O The market demand c rve (or j t demand
c rve) how the relationhip between the
price of a good and the d antity demanded ,
holding contant all other variable that
infl ence demand
À Each point on the c rve how the total b yer
wo ld chooe to b y at a pecific price
O Law of demand tell  that demand c rve
virt ally alway lope downward

The Market Demand

å 
 
 
  

   
2  2
 2  
 2  2 
  2 2 
    
 
   

      

rice demand: å 
      
  

       
2 Income demand : 
      

      
     
 Cro demand :   
      
 
    
  
         
 
    
   
 oint or Complementary demand:      
   
          
    
 Compoite demand!       
          

rig re : The Demand C rve
 



  
  - 

    
   
 
›
- 
 - 
 
  
   
 



  0 
 
  


Shift v Movement Along The
Demand C rve
O Move along the demand c rve

À rrom a change in the  of the good we analyze

À A fall in price wo ld ca e a movement to the right along the demand


c rve (point A to B)


Movement Along and Shift of The
Demand C rve

å     
   ?   
 
å
å     
  ?   
 
å

å

   X   

Shift v Movement Along The
Demand C rve
O Shift of demand c rve
À a change in other thing than price of the good ca e a
hift in the demand c rve itelf, for example, income
O In rig re 2
À Demand c rve ha hifted to the right of the old c rve
(from rig re ) a income ha rien
À A change in any variable that affect demandexcept for
the good  priceca e the demand c rve to hift


A Shift of The Demand C rve
 

     
      

 ! 
     

 
   
     



-  

 

  0 


 
  

Income: ractor That Shift The
Demand C rve
O An increae in income ha effect of hifting
demand for normal good to the right
À However, a rie in income hift demand for
inferior good to the left
O A rie in income will increae the demand for
a normal good, and decreae the demand for
an inferior good
O Normal good and inferior good are defined by
the relation between demand and income


Wealth: ractor That Shift The
Demand C rve
O Yo r wealthat any point in timei the
total val e of everything yo own min  the
total dollar amo nt yo owe
Example
O An increae in wealth will
À Increae demand (hift the c rve rightward) for a
normal good
À Decreae demand (hift the c rve leftward) for an
inferior good
2

rice of elated Good: ractor that
Shift the Demand C rve
O S btit tegood that can be ed in place of ome
other good and that f lfill more or le the ame
p rpoe
À Example
À A rie in the price of a  btit te increae the demand for
a good, hifting the demand c rve to the right
O Complement ed together with the good we are
intereted in
À Example
À A rie in the price of a complement decreae the demand
for a good, hifting the demand c rve to the left

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Other ractor That Shift the Demand
C rve
O
op lation
À A the pop lation increae in an area
O N mber of b yer will ordinarily increae
O Demand for a good will increae
O Expected
rice
À An expectation that price will rie (fall) in the f t re hift the c rrent
demand c rve rightward (leftward)
O Tate
À Combination of all the peronal factor that go into determining how a
b yer feel abo t a good
À When tate change toward a good, demand increae, and the
demand c rve hift to the right
À When tate change away from a good, demand decreae, and the
demand c rve hift to the left

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Small S mmary
ractor Affecting Demand
O (depend on good  nat re: normal or
inferior)
O W (depend on good  nat re)
O å       (poitively related)
O å  
 (negatively related)
O å
 (poitively related)
O 
 
 (poitively related)
O    (poitively related)
2
Movement Along and Shift of The
Demand C rve

     
   "
O     M
O
    #
O
  
   $
O

 #
O %
 
 #
O      




X   

2
Movement Along and Shift of The
Demand C rve

     
    "
O     $
O
    $
O
  
   #
O

 $
O %
 
 $
O      




X   

2
Val e, Utility, & Wealth
O å      Õ ome neceitie like
water have little monetary val e, wherea
ome non neceitie, like gold, ha a m ch
higher val e
O Scarcity i not eno gh to create val e It
m t have tility
O w
Õ the capacity to be ef l and
provide atifaction