--%>
Assignment Help - homework help

Write short note on Demand

Write short note on Demand?

E

Expert

Verified

Demand is a schedule that shows the various amounts of a product consumers are willing and able to buy at each specific price in a series of possible prices during a specified time period.

1. The schedule shows how much buyers are willing and able to purchase at five possible prices.

2. The market price depends on demand and supply.

3. To be meaningful, the demand schedule must have a period of time associated with it.

   Related Questions in Business Economics

  • Q : Illustrate the 4th role is the

    Illustrate the 4th role is the reallocation of resources?

    		•
  • Q : What is the opportunity cost of your

    Suppose you arrive at a store expecting to pay $100 for an item, but learn that a store two miles away is charging $50 for it.  Would you drive there and buy it?  How does your decision benefit you?  What is the opportunity cost of your decision?  Now suppose you arrive at a s

    		•
  • Q : Maximizes profits in a perfectly

    Which of the given is not true for a firm within perfect competition: w) Profit equivalents total revenue minus total cost. x) Price equivalents average revenue. y) Average revenue is greater than marginal revenue. z) Marginal revenue equivalents the

    		•
  • Q : Advantages rising from division of

    Adam Smith known three advantages rising from divisions of labor which would lead to greater economic wealth that did not include the concept that the division of labor: (w) helps every worker refine specialized skill

    		•
  • Q : Major implication of invisible hand of

    The major implication of Adam Smith’s conception of an “invisible hand” was such that: (w) pursuit of individual self interest must be controlled. (x) most people lose sight of what’s good for society. (y) most

    		•
  • Q : Introduction of the term Cost of

    Give a brief introduction of the term Cost of preference shares?

    		•
  • Q : Budget line and indifference curves

    Question: Monica has been considering buying a mountain bike. Last month Monica had an income of $30,000. The bike's price was $1000, the composite good price was $1, and she decided not to buy the bike.  This month Monica was surprised t

    		•
  • Q : Interrelationships between economic

    Explain in detail the interrelationships between economic facts, theory, and policy.  Critically evaluate this statement:  “The trouble with economic theory is that it is not practical.  It is detached from the real world.”

    		•
  • Q : New firms entry in industry What

    What persuades new firms to enter in an industry? Answer: Abnormal profit encourages new firms to enter an industry. 

    		•
  • Q : Unpredictable and frequent fluctuations

    Adam Smith attributed unpredictable and frequent fluctuations within profits to: (i) variations in the prices of the goods a firm or person produces and sells. (ii) the bad or good fortune of rivals. (iii) the good or bad fortune of customers. (iv) tr

    		•