Archive | Demand for Good

Determinants of Demand for Good | Microeconomics

In this article we will discuss about the determinants of an individual's demand for a good and also of the market demand for the good. The determinants are: 1. Own Price of the Good 2. Indifference-Preference Pattern of the Buyers 3. Income of the Buyers 4. Prices of Related Goods 5. Governmental Policy 6. Distribution of Income and Wealth 7. Number [...]

By Vanshika Ghosh|2016-09-17T16:01:15+05:30September 17, 2016|Demand for Good|Comments Off

Price and Demand for a Good | Economy

In this article we will discuss about the relation between the price and demand for a good in an economy. 1. Price-Demand Relation for a Non-Inferior (Normal or Superior) Good: As it is know, M and pY remaining constant, if px diminishes (increases), then good X becomes relatively cheaper (dearer) and so the consumer buys more (less) of good X [...]

By Vanshika Ghosh|2016-09-17T15:59:29+05:30September 17, 2016|Demand for Good|Comments Off

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