CONCEPTS

OF
DEMAND
INTRODUCTION
An important and fascinating area of study in economics is
economic analysis. It is the place where the decision-
making process takes place between the two major
economic participants, the producer and the consumer, and
the market reflects this decision. We can comprehend
economics in its most pronounced form by studying the
two's behavior. In order for students to comprehend how the
economy functions and its larger context, they must first be
exposed to one of its key ideas: DEMAND.
OBJECTIVES/ OUTCOMES:

1. Describe demand and the role it plays in

economics.

2. illustrate Demand schedule using a graph.

TOPICS PRESENTATION:
 What
is
Demand?
 is the capacity and desire of households to
1 purchase products and services at various prices
at a specific time and location.
From Wikipedia
Definition
of
Demand

a market statement of the total

willingness of all households to purchase
2
various things at a cost. Individual
demand for products and services is a
market phenomenon that is influenced by
price.
From Wikipedia
 The negative correlation of Price (P) andNumber
1 required (Qd). Qd declines as P increases. AsP
decreases, Qd rises in the same manner
From Wikipedia
LAW
of
Demand

P and Qd have an inverse connection.

The Qd of the increases in price
2
household spending on particular
products and services declines, and as
the P declines, the Qd rises (holding
other factors constant).
From Wikipedia
 1

• a table displaying the total demand for HH's

ability and willingness to pay a price for
DEMAND products and services at a specific time.
SCHEDULE
• A table demonstrating the quantity of a
2
specific product that an HH would be willing
and able to purchase at various prices.
 1
• A visual representation of the quantity of
a specific good or products that a
DEMAND household (HH) might purchase at
various prices.
CURVE
2 • A curve illustrating the connection
between Qd and P It slopes downward.
due to two important reasons, namely:
a. the impact of income
b. replacement effect
ACTIVITIES:
1. Define Demand:
__________________________________________________

2. Define Demand Schedule:

__________________________________________________

3. Define Demand Curve:

__________________________________________________
4.Analyze the given Demand Schedule and illustrate it’s Demand curve
it in a graph.
EVALUATION/ASSESMENT:
1. What did this topic teach you? (at least 8 sentences)
2. Illustrate /visualize in a graph one circumstances that alters Demand
and Explain.
THANK YOU