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Demand Demand is a relationship which shows the various quantities consumers are willing and able to buy of a good at different possible prices of a good.

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Presentation on theme: "Demand Demand is a relationship which shows the various quantities consumers are willing and able to buy of a good at different possible prices of a good."— Presentation transcript:

1 Demand Demand is a relationship which shows the various quantities consumers are willing and able to buy of a good at different possible prices of a good.

2 Demand Schedule for Good Z
Price Quantity Demanded $

3 Demand Curve for Good Z 6 Price 5 4 3 2 D 1 60 10 20 30 40 50 Quantity Demanded

4 Price and quantity demanded are inversely related.
Law of Demand Price and quantity demanded are inversely related.

5 Determinants of demand
Number of Buyers Prices of Other Goods Incomes of the Buyers Tastes and Preferences Subsidies and Taxes Expectations

6 Change in Quantity Demanded
Move Along Same Demand Curve 6 Price 5 A 4 B 3 2 D 1 60 10 20 30 40 50 Quantity Demanded

7 Change in the Demand Curve (Increase)
6 Price 5 A B 4 3 2 D2 1 D1 60 10 20 30 40 50 Quantity Demanded

8 Change in the Demand Curve (Decrease)
6 Price 5 4 A B 3 2 D1 1 D2 60 10 20 30 40 50 Quantity Demanded

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