Call Girls in New Ashok Nagar, (delhi) call me [9953056974] escort service 24X7
ย
Supply and Demand - Modern Economics LATiFHRW
1.
2. Submitted to: Madam Syeda Ujala Shah
Presented By:
LATEEF HYDER WADHO (2K18MBA54)
Modern Economics
-Demand and Supply
Institute Of Business Administration
University Of Sindh Jamshoro
3. โข Demand is defined as the amount of goods the
consumers are ready to buy for a sustained period
and at a given price point.
โข It is the relationship between price and quantity
demanded other things remaining constant.
โข Quantity demanded is a flow concept thus time
dimension needs to be mentioned
Concept of Demand
4. โข It states that quantity demanded is dependent on
the price, thus for every change in the price the
quantity demanded will change.
โข Mathematically,
ยป X=f(P)
โข Where, X = Quantity Demanded
โข P = Price to be paid for the quantity demanded
โข This relationship is inverse in nature. This is the
reason why the demand curve is negatively sloped.
Law of Demand
6. โข Income of consumer
โข Existing wealth of consumer
โข Change of preferences of consumer
โข Expectation regarding future price changes
โข Population
Factors influencing the demand curve
7. โข Quantity supplied is the amount of a goods that
sellers are willing and able to sell
โข Supply is a full description of how the quantity
supplied of a commodity responds to changes in its
price
Supply
8. โข A decrease in the price of a good, all other things
held constant, will cause a decrease in the quantity
supplied of the good and an increase in the price of a
good will cause an increase in the quantity supplied
of the good.
Law of Supply
9. โข Input prices
โข Technology
โข Number of sellers
โข The market supply will increase if
โ Raw materials or labor becomes cheaper
โ The technology becomes more efficient
โ Number of sellers increases
Changes in Supply