{"id":1982,"date":"2019-07-27T06:52:04","date_gmt":"2019-07-27T06:52:04","guid":{"rendered":"https:\/\/commerceiets.com\/?p=1982"},"modified":"2019-07-27T06:52:04","modified_gmt":"2019-07-27T06:52:04","slug":"demand","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/demand\/","title":{"rendered":"DEMAND"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/commerceiets.com\/demand\/#MEANING\" title=\"MEANING\">MEANING<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/commerceiets.com\/demand\/#ELEMENTS\" title=\"ELEMENTS\">ELEMENTS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/commerceiets.com\/demand\/#DEMAND_SCHEDULE\" title=\"DEMAND SCHEDULE\">DEMAND SCHEDULE<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/commerceiets.com\/demand\/#INDIVIDUAL_DEMAND_SCHEDULE\" title=\"INDIVIDUAL DEMAND SCHEDULE\">INDIVIDUAL DEMAND SCHEDULE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/commerceiets.com\/demand\/#MARKET_DEMAND_SCHEDULE\" title=\"MARKET DEMAND SCHEDULE\">MARKET DEMAND SCHEDULE<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/commerceiets.com\/demand\/#DEMAND_CURVE\" title=\"DEMAND CURVE\">DEMAND CURVE<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/commerceiets.com\/demand\/#INDIVIDUAL_DEMAND_CURVE\" title=\"INDIVIDUAL DEMAND CURVE\">INDIVIDUAL DEMAND CURVE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/commerceiets.com\/demand\/#MARKET_DEMAND_CURVE\" title=\"MARKET DEMAND CURVE\">MARKET DEMAND CURVE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/commerceiets.com\/demand\/#QUANTITY_DEMANDED\" title=\"QUANTITY DEMANDED\">QUANTITY DEMANDED<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1 class=\"has-text-align-center wp-block-heading\" id=\"meaning\"><span class=\"ez-toc-section\" id=\"MEANING\"><\/span>MEANING<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p>Demand is that specific quantity of a commodity which the consumer purchases at a specific price during a specified time period.<\/p>\n\n\n\n<p class=\"has-luminous-vivid-amber-background-color has-background\"><strong>ACCORDING TO FERGUSON<\/strong><\/p>\n\n\n\n<p>\u201cDemand refers to the quantities of commodity that the\nconsumers are able and willing to purchase at each possible price during a\nperiod of time, other things being equal.\u201d<\/p>\n\n\n\n<p class=\"has-luminous-vivid-amber-background-color has-background\"><strong>ACCORDING TO BENHAM<\/strong><\/p>\n\n\n\n<p>\u201cThe demand for anything at a given price is the amount of\nit, which will be bought per unit of time at that price.\u201d<\/p>\n\n\n\n<p class=\"has-luminous-vivid-amber-background-color has-background\"><strong>ACCORDING TO VEERA ANSTEY<\/strong><\/p>\n\n\n\n<p>\u201cThe demand for a particular good is the amount that will be\npurchased at a given price at a given time.\u201d<\/p>\n\n\n\n<p class=\"has-luminous-vivid-amber-background-color has-background\"><strong>ACCORDING TO HANSEN<\/strong><\/p>\n\n\n\n<p>\u201cBy demand, we mean the quantity of a commodity that will be\npurchased at a particular price and not merely the desire of a thing.\u201d<\/p>\n\n\n\n<p>Thus, the demands for a commodity is the desire to purchase a commodity backed by the sufficient purchasing power and the willingness to spend. &nbsp;<\/p>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"elements\"><span class=\"ez-toc-section\" id=\"ELEMENTS\"><\/span>ELEMENTS <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"720\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/Slide3-2.jpg\" alt=\"ELEMENTS OF DEMAND\n\" class=\"wp-image-1987\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/Slide3-2.jpg 960w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/Slide3-2-300x225.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/Slide3-2-768x576.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n\n\n\n<p><strong>DESIRE TO PURCHASE A COMMODITY:<\/strong> Demand arises only when there is any kind of desire to purchase a commodity. If there is no desire, no demand arises.<\/p>\n\n\n\n<p><strong>CAPACITY TO PAY:<\/strong> Something can be purchased only when human being has something to pay for it. It means the person should be capable to pay the price for the commodity demanded. The price of the commodity is paid in terms of money.<\/p>\n\n\n\n<p><strong>WILLINGNESS TO SPEND:<\/strong> The consumer should also be willing to spend the money to purchase the commodity. If the consumer has the resources, but he is not willing to spend, then his desire cannot become a demand.<\/p>\n\n\n\n<p>Thus, it refers to the willingness and ability of consumers to purchase a given quantity of a good or service at a given point of time or over a period of time.<\/p>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"demand-schedule\"><span class=\"ez-toc-section\" id=\"DEMAND_SCHEDULE\"><\/span>DEMAND SCHEDULE<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It is the table showing the relation between different quantities of a commodity to be purchased at different prices of commodity.<\/p>\n\n\n\n<p class=\"has-luminous-vivid-amber-background-color has-background\"><strong>ACCORDING TO SAMUELSON<\/strong><\/p>\n\n\n\n<p>\u201cThe table relating to price and quantity demanded is called\nthe demand schedule.\u201d<\/p>\n\n\n\n<p>It may be:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"720\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/Slide5-2.jpg\" alt=\"\" class=\"wp-image-1989\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/Slide5-2.jpg 960w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/Slide5-2-300x225.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/Slide5-2-768x576.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"individual-demand-schedule\"><span class=\"ez-toc-section\" id=\"INDIVIDUAL_DEMAND_SCHEDULE\"><\/span>INDIVIDUAL DEMAND SCHEDULE<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>It is the schedule of one consumer. It shows the various quantities demanded by an individual at different prices of that commodity, at a point of time.<\/p>\n\n\n\n<p>It can be shown as:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-regular\"><table class=\"has-background\" style=\"background-color:#e7f5fe\"><tbody><tr><td><strong>   PRICE OF GOOD X   <\/strong><\/td><td><strong>   QUANTITY DEMANDED OF GOOD X   <\/strong><\/td><\/tr><tr><td><strong>1   <br \/>2   <br \/>3   <br \/>4   <br \/>5   <br \/>6   <\/strong><\/td><td><strong>6   <br \/>5   <br \/>4   <br \/>3   <br \/>2   <br \/>1   <\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>The table shows the negative relationship between the\nquantity demanded and price. When the price is \u20b91, the consumer makes purchase\nof 6 units. When price rises to \u20b96, the quantity demanded decreases to 1 unit. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"market-demand-schedule\"><span class=\"ez-toc-section\" id=\"MARKET_DEMAND_SCHEDULE\"><\/span>MARKET DEMAND SCHEDULE<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>A market consists of all those individuals who want to\npurchase a given commodity. Market demand Schedule is a table showing different\nquantities of a commodity that all the buyers or consumers in the market are\nready to buy at different possible prices of the commodity at a point of time.<\/p>\n\n\n\n<p>It can be shown as: <\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#e7f5fe\"><tbody><tr><td>   <strong>PRICE OF GOOD X   <\/strong><\/td><td><strong>   QUANTITY DEMANDED BY CONSUMER \u2018A\u2019    <\/strong><\/td><td><strong>   QUANTITY DEMANDED BY CONSUMER \u2018B\u2019   <\/strong><\/td><td><strong>   QUANTITY DEMANDED BY CONSUMER \u2018C\u2019   <\/strong><\/td><td><strong>   MARKET DEMAND   <\/strong><\/td><\/tr><tr><td>   2<br \/>   4<br \/>   6<br \/>   8<br \/>   10   <\/td><td>   5<br \/>   4<br \/>   3<br \/>   2<br \/>   1   <\/td><td>   6<br \/>   5<br \/>   4<br \/>   3<br \/>   2   <\/td><td>   4<br \/>   3<br \/>   2<br \/>   1<br \/>   0   <\/td><td>(5+6+4)= 15<br \/>(4+5+3)= 12   <br \/>(3+4+2)= 9   (2+3+1)= 6   (1+2+0)= 3   <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>The table shows the different quantities demanded by consumers \u2018A\u2019, \u2018B\u2019 and \u2018C\u2019 at different prices. The total of their demands become the market demand which is 15 units at the price of \u20b92 and falls to 3 units when price of commodity increases to \u20b910.<\/p>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"demand-curve\"><span class=\"ez-toc-section\" id=\"DEMAND_CURVE\"><\/span>DEMAND CURVE<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It refers to the graphic presentation of different quantities demanded at different prices of the particular commodity.<\/p>\n\n\n\n<p class=\"has-luminous-vivid-amber-background-color has-background\"><strong>ACCORDING TO LEFTWITCH<\/strong><\/p>\n\n\n\n<p>\u201c\u2019The demand curve represents the maximum quantities per unit of time that consumers will take at various prices.\u201d<\/p>\n\n\n\n<p class=\"has-luminous-vivid-amber-background-color has-background\"><strong>ACCORDING TO R.G. LIPSEY<\/strong><\/p>\n\n\n\n<p>&#8220;The curve which shows the relation between the price of a commodity and the amount of the commodity the consumer wishes to purchase, is called demand curve.&#8221;<\/p>\n\n\n\n<p>It may be:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"720\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/Slide6-2.jpg\" alt=\"\" class=\"wp-image-1988\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/Slide6-2.jpg 960w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/Slide6-2-300x225.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/Slide6-2-768x576.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"individual-demand-curve\"><span class=\"ez-toc-section\" id=\"INDIVIDUAL_DEMAND_CURVE\"><\/span>INDIVIDUAL DEMAND CURVE<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>A curve which shows the quantity demanded for a particular commodity by an individual consumer at various prices of that commodity during a specific time period is known as Individual Demand Curve. It is negatively sloped curve that shows the inverse relationship between price and quantity demanded.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"195\" height=\"206\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/individual-demand-curve.jpg\" alt=\"\" class=\"wp-image-1983\"\/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"market-demand-curve\"><span class=\"ez-toc-section\" id=\"MARKET_DEMAND_CURVE\"><\/span>MARKET DEMAND CURVE<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>A curve which shows the quantity demanded for a particular commodity by all the consumers present in the market at various prices of that commodity during a specific period of time is known as Market Demand Curve. It is the sum up of the amounts demanded by the various consumers.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"630\" height=\"206\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/clip_image007_thumb1.jpg\" alt=\"\" class=\"wp-image-1984\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/clip_image007_thumb1.jpg 630w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/clip_image007_thumb1-300x98.jpg 300w\" sizes=\"(max-width: 630px) 100vw, 630px\" \/><\/figure>\n\n\n\n<p>It shows the horizontal summation of the individual curves.<\/p>\n\n\n\n<h4 class=\"has-text-align-center wp-block-heading\" id=\"quantity-demanded\"><span class=\"ez-toc-section\" id=\"QUANTITY_DEMANDED\"><\/span>QUANTITY DEMANDED<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Quantity demanded refers to the specific quantity to be\npurchased against a specific price of the commodity.<\/p>\n\n\n\n<p><strong>Example:<\/strong> A consumer buys 8 units of a commodity if the price is \u20b96.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/demand\/\">Theory of Demand<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/law-of-demand\/\">Law of Demand<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/demand-function\/\">Demand Function<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/exceptions-of-law-of-demand\/\">Exceptions of law of demand<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/elasticity-of-demand\/\">Elasticity of demand<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/change-in-demand\/\">Change in demand<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/price-elasticity-of-demand\/\">Price elasticity of demand<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-law-of-demand-and-elasticity-of-demand\/\">Law of demand Vs Elasticity of demand<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/factors-affecting-price-elasticity-of-demand\/\">Factors affecting price elasticity of demand<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/production-function\/\">Production function<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-short-run-long-run-production-function\/\">Short run vs long run production function<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/law-of-variable-proportions\/\">Law of variable proportions<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/types-of-demand\/\">Types of demand<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/managerial-economics\/\">Managerial economics<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/characteristics-of-managerial-economics\/\">Characteristics of managerial economics<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/scope-of-managerial-economics\/\">Scope of managerial economics<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/utility-analysis\/\">Utility analysis<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/law-of-diminishing-marginal-utility\/\">Law of diminishing marginal utility<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/law-of-equi-marginal-utility\/\">Law of equi marginal utility<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/consumer-equilibrium\/\">Consumers Equilibrium<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/indifference-curve-analysis\/\">Indifference curve analysis<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/consumer-equilibrium-using-indifference-curve-analysis\/\">Consumer equilibrium using indifference curve analysis<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/relationship-between-tp-ap-and-mp\/\">Relationship between TP, AP and MP<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/law-of-increasing-returns\/\">Law of increasing returns<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/law-of-diminishing-returns\/\">Law of diminishing returns<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/law-of-constant-returns\/\">Law of constant returns<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/returns-to-scale\/\">Returns to Scale<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/economies-and-diseconomies-of-scale\/\">Economies and diseconomies of scale<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/concept-of-costs\/\">Concept of costs<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/relationship-between-ac-and-mc\/\">Relationship between AC and MC<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/traditional-theory-of-cost\/\">Traditional theory of costs<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/modern-theory-of-cost\/\">Modern theory of costs<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/explicit-vs-implicit-costs\/\">Explicit vs Implicit costs<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/revenue\/\">Revenue<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/perfect-competition\/\">Perfect competition<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/monopoly-meaning\/\">Monopoly<\/a>&nbsp;<\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/price-discrimination\/\">Price discrimination<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-perfect-competition-and-monopoly\/\">Difference between perfect competition and monopoly<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/perfect-and-monopolistic-competition\/\">Perfect Vs Monopolistic competition<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/monopoly-and-monopolistic-competition\/\">Monopoly and monopolistic competition<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/product-differentiation-strategy\/\">Product differentiation strategy<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/monopolistic-competition\/\">Monopolistic competition<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/national-income-in-india\/\">National Income in India<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/measurement-of-national-income\/\">Measurement of national income in India<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/consumption-function\/\">Consumption function<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/keynesian-psychological-law-of-consumption\/\">Keynes Psychological law of consumption<\/a><\/td><td><\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.linkedin.com\/in\/kajal-mahajan-7549b2197\/\" target=\"_blank\" rel=\"noreferrer noopener\">CONNECT ON LINKEDIN<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MEANING Demand is that specific quantity of a commodity which the consumer purchases at a specific price during a specified time period. ACCORDING TO FERGUSON \u201cDemand refers to the quantities of commodity that the consumers are able and willing to purchase at each possible price during a period of time, other things being equal.\u201d ACCORDING&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/commerceiets.com\/demand\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;DEMAND&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":1985,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[92],"tags":[],"class_list":["post-1982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-micro-economics"],"_links":{"self":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/1982"}],"collection":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/comments?post=1982"}],"version-history":[{"count":0,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/1982\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media\/1985"}],"wp:attachment":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media?parent=1982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/categories?post=1982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/tags?post=1982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}