A Demand Analysis Economics - A Demand Analysis

Decrease in demand.
(a) Favourable changes in other factors
(b) Unfavourable changes in other factors
(c) Decrease in quantity demanded
(d) Changes in income of the consumer

Market demand.
(a) Aggregate demand
(b) Macro economics
(c) Micro economics
(d) Lumping method

Individual demand.
(a) Micro economics
(b) Slicing method
(c) Lumping method
(d) Study of individual unit

Change in Demand.
(a) Constant price
(b) Change in demand
(c) Changes in other factors
(d) Increase and Decrease in demand

Expansion of Demand.
(a) Fall in price
(b) Rise in quantity demanded
(c) No change in income
(d) Change in population

……………… : Tea :: Composite demand : Milk

Fall in Price : ……………… :: Rise in Price : Quantity demanded falls

Increase in demand : Favourable changes in other factors :: Decrease in demand : ………………

Change in demand : Increase in Demand :: ………………: Extension in demand

Expansion in demand : Downward movement on the demand curve :: ………………: Upward movement on the demand curve

A rise in demand caused by favourable changes in other factors at same price is called ………………

When demand changes due to changes in price, it is known as ………………

Expensive goods such as diamonds, luxury cars are known as ……………..

Inferior goods like cheap bread, vegetable ghee, etc., is known as ……………..

Marshall’s law of demand describes the functional relationship between ……………..

Assertion (A) – Increase in demand refers rise in quantity demanded due to favourable changes in other factors and price remains constant.
Reasoning (R) – Decrease in demand refers to fall in quantity demand due to unfavourable changes in other factors and price remains constant.
(i) (A) is true but (R) is false.
(ii) (A) is false but (R) is true.
(iii) Both (A) and (R) is true and (R) is the correct explanation of (A).
(iv) Both (A) and (R) is True but (R) is not the ) correct explanation of (A).

Assertion (A) – Variations in demand refers to change in quantity demanded due to change in price alone and other factors remain constant.
Reasoning (R) – Increase in demand and decrease in demand are the types of variations in demand.
(i) (A) is true but (R) is false.
(ii) (A) is false but (R) is true.
(iii) Both (A) and (R) is true and (R) is the correct explanation of (A).
(iv) Both (A) and (R) is true but (R) is not the correct explanation of (A).

Assertion (A) – If consumer can anticipate the future price of a commodity then it will affect the present demand of a commodity. Reasoning (R) – Ram buy’s less mangoes in anticipation of getting it at cheaper rate in further date. (i) (A) is true but (R) is false. (ii) (A) is false but (R) is true. (iii) Both (A) and (R) is true and (R) is the correct explanation of (A). (iv) Both (A) and (R) is true but (R) is not the correct explanation of (A).

Assertion (A) – Demand curve slopes downwards from left to right. Reasoning (R) – The price of a commodity falls, quantity demanded rises and when S price of commodity rises, quantity demanded falls. (i) (A) is true but (R) is false. (ii) (A) is false but (R) is true. (iii) Both (A) and (R) is true and (R) is the correct explanation of (A). (iv) Both (A) and (R) is True but (R) is not the correct explanation of (A).

Assertion (A) – When the population size is larger, demand for commodity will be less. Reasoning (R) – Change in the price of one commodity would also affect the demand of substitute goods. (i) (A) is true but (R) is false. (ii) (A) is false but (R) is true. (iii) Both (A) and (R) is true and (R) is the correct explanation of (A). (iv) Both (A) and (R) is true but (R) is not the correct explanation of (A).

Whenever there is decrease in price of gold, demand for gold rises.

Pari has bought most desirable Apple iphone 11 pro.

Due to increase in population of Mumbai, demand for electricity is rising day by day.

Since Manoj’s salary has increased he has bought 5 kgs of rice instead of 3 kgs rice which he buys normally.

Ramesh has bought 1kg of Tea powder instead of expensive coffee powder.

Demand and Aggregate Demand.

Complementary Demand or Joint Demand and Competitive Demand.

Joint Demand and Composite Demand.

Variation in Demand and Chañges in Di

Contraction of Demand and Decrease in Demand

There are many types of demand.

Population is the only determinant or factors of demand. (Mar. ‘15)

All desires are not demand.

Price is the only determinant of demand.OR
Price is the only factor that affects demand for a commodity.

The law of Demand is based on assumptions.

In diagram B movement of demand curve is in …………………… direction

Diagram A represents ……………. in demand

Explain the diagrams:

Increase and decrease in demand comes under …………….

Price remains …………….

Explain the concept of Giffen Paradox

What is meant by extension and contraction of demand?

Explain the assumptions to the Law of Demand.

Explain the concept of change in j demand.

Explain Market Demand schedule with a suitable diagram.

Two or more goods are demanded at a time to satisfy one want.

The demand for factors of production like land, labour, etc.

The demand for commodities to satisfy the human wants directly.

Goods of low quality are considered as inferior goods.

Fall in demand due to changes in other factors, price remaining constant.

Sony, Samsung, Onida, Karbonn

Gold, Diamond, Platinum, Aluminium

Coffee powder, Chilli powder, Milk, Sug >r

Tea – Coffee, Car – Fuel, Thums-up – Pepsi, Rice – Wheat

Consumer demand, Complementary demand, Composite demand, Competitive demand