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Pankaj Soni Economics &demand: Thank You For Being Here Today.I'M and I'M Here Today To Talk To You About
Pankaj Soni Economics &demand: Thank You For Being Here Today.I'M and I'M Here Today To Talk To You About
Pankaj Soni Economics &demand: Thank You For Being Here Today.I'M and I'M Here Today To Talk To You About
CONCEPT OF UTILITY
CONSUMER EQUILIBRIUM
MEANING OF DEMAND
LAW OF DEMAND
ASSUMPTION OF DEMAND
DETERMINANTS OF DEMAND
Labor {Man
CapitalPower}
{Machinery}
There are two types technology
Labor intensive {More Labor >Less Capital] in INDIA
Capital Intensive
{More Capital > Less
Labor} in U.S.A
For whom to
Produce
Refers with consumers of Income
This problem is refers to selection of the category of people who are ultimately consume the Goods &
service
Negative
Consumer Equilibrium
It refers the situation when a consumer is
having maximum satisfaction with his
limited income.
Equilibrium Means:- Get Maximum Satisfaction with his Limited
Income. {MU =Price }
Consumer Surplus
When Consumer get more Satisfaction with his limited Income
MU > Price = Consumer Increase Consumption
Price
A Quantity price
B Quantity
Market Demand
5 1+2=3
5 1 5 2
4 2+6=8
4 2 4 6
3 3+8= 11
3 3 3 8
2 4+9=13
2 4 2 9
1 5+10 =15
1 5 1 10
Assumption Of Demand
1.Normal Goods
These are the goods the demand for which increases as income of the buyers rises. There is a
positive relationship Between income and demand Or ,in case of normal goods income effect is
positive.
2.Inferior Goods
These are the goods the demand for which decreases as income of buyers for which decreases
as income of buyers rises . These is inverse /negative relationship income and demand. Or, In
case of inferior goods, income effect is negative.