demand- managerial economics.

demand,law of demand......

1. DEMAND AND ITS DETERMINANTS BY- MANSI BANSAL & NISHU JINDAL

2. CONTENTS NEEDS AND WANTS DEFINITION OF DEMAND DEMAND CURVE AND SCHEDULE LAW OF DEMAND WHY DEMAND CURVE SLOPES DOWNWARD DETERMINANTS OF DEMAND MOVEMENT AND SHIFT IN DEMAND CURVE

3. Firstly we have to understand what is needs and wants? Lets have a look..!

4. CHARACTERISTICS OF LAW OF DEMAND INVERSE RELATIONSHIP PRICE -An independent variable & DEMAND - Dependent variable OTHER THINGS REMAIN CONSTANT DIRECTION OF CHANGE RELATED WITH TIME

5. FUNCTIONS { Dx =f( Px,Pr,Y,T,E ) } Price of commodity ( Px ) Price of related goods ( Pr ) Income of consumers (Y) Taste & P refrences (T) Expectations (E)

6. ASSUMPTIONS NO CHANGE IN:- P rice of related goods Income Taste and Preferences. Expectations. Size, age, composition, etc. Range of goods available to consumers Whether conditions Government policies Distribution of income

7. EXCEPTIONS TO THE LAW OF DEMAND VEBLEN/LUXURY GOODS IGNORANCE GIFFEN GOODS EXPECTATION OF FALL OF PRICE IN FUTURE CONSUMER’S PSYCHOLOGY BIAS OR ILLUSION NECESSITIES OF LIFE COMMODITIES WITH SPECIAL BRAND WAR OR EMERGENCY SMALL PART OF TOTAL EXPENDITURE

8. FACTORS AFFECTING DEMAND WHAT FACTORS OR DETERMINANTS AFFECT DEMAND ??