GOOD MORNING!

*DEMAND AND SUPPLY

*DETERMINANTS OF
DEMAND AND SUPPLY
PRAYER
Dear Lord we praise and adore you,
Lord please forgive our sins
“ Supply the needs first and the wants later.”
-David Benedict Zumbo
Demand
Demand is an economic principle referring to a
consumer’s desire to purchase goods and services and
willingness to pay a price for a specific good or service.
Holding all other factor constant, an increase in the
price of a good or service will decrease the quantity,
demanded, and vice versa.

An example of this is ice cream. You can easily get a

different dessert if the price rises too high. The “all other
things” that need to be equal under ceteris paribus are
the other determinants of demand. These are prices of
related goods or services, income, tastes or preferences,
and expectations.
Determinants of Demand
Change in Consumer Income:
When there is an increase in income, demand for
most goods increases. If there is a decrease in income,
demand for most goods decreases.
Change in Consumer Tastes:
If consumers like a product more based on
advertising or experience in using the good, demand
increases. If consumers like a good less over time,
demand decreases.
Change in the Price of a Substitute Good:
If the price of a substitute good increases, this will
increase demand for the original good.
Change in the Price of a Complementary Good:
If the price of a complementary good increases, this
will decrease demand for the original good.
Change in Consumers’ Price Expectations:
Consumers’ expectations about the future price of a
good influence demand. If consumers expect the price to
increase, then try to buy more now, before the price
rises.
Change in Number of Consumers in the Market:
If there is an increase in the number of consumers,
this will result in an increase in demand. If there is a
decrease in the number of consumers, this will result in
a decrease in demand.
Supply
Supply is a fundamental economic concept that
describes the total amount of a specific good or service
that is available to consumers. Supply can relate to the
amount available at a specific price or the amount
available across a range of prices if displayed on a graph.
For example, let’s say that fisherman notice the price of
tuna rising. Because higher prices will make them more
money, fishermen spend more time and effort catching
tuna. As a result, as the price rises, the quantity of tuna
supplied increases.
Determinants of Supply
Factors other than price that impact the amount that will
be produced at each price.
Usually assumed to be constant, but when any of the
change supply will shift.

List the Determinants of Supply

1.Change in resource prices.
2. Change in technology.
3. Change in taxes and subsidies.
4. Change in the prices of other goods.
5. Change in expectations.
6. Change in the number of sellers.
Thank you!
Playing Court
The playing court is 40m long and 20m wide, with
two goal areas and a playing area. The longer boundary
lines are called side lines, and the shorter ones are called
goal lines (between the goalposts) or outer goal lines (on
either sides of the goal).

Goals
A goal is placed in the center of each outer goal line.
The goals must be firmly attached to the floor or to the
walls behind them. The goals are 2m high and 3m wide.
Handball Goals
In handball, there are two goals, with one on each side
of the court. The official size of a handball goal is 2 meters
(6’7”) high and 3 meters (9’10”) wide. The net goes one
meter deep from the base of the goal. Each team has one
goal to score in and one to defend at any point in the game.

Handball Ball
Made of leather and are about the size of a melon.
However, the size and weight of the ball will vary
depending on the group playing. The ball for men's games
is 15-17 ounces and is 23-24 inches in circumference.
Women and juniors use as small balls weighing 12 -14
ounces and 21-22 inches in circumference.