Introduction of Demand Demand is a desire for good, backed by ability and willingness to pay. Individual Demand : The quantity of commodity that a person willing to buy at given price over a specific period of time. Market Demand : Total quantity that all the users of a commodity are willing to buy at given price over a specific period of time. Market Demand is the sum of Individuals demand.
The degree of responsiveness of demand for a commodity to the change in its price.
Elasticity of Demand is the % change in Quantity demanded of a commodity as a result of certain % change in its Price.
Ed = % change in Quantity demanded / % change in Price.
Volkswagen Group 1904–1936 : “Volkswagen” began in Germany in 1904. 1937–1945 : The Foundation of the Volkswagen Plant. 1950–1960 : Internationalization and Mass Production in Germany’s Economic Miracle. 1973–1981 : The new generation of Volkswagens arrived 1982–1991 : New Brands, New Markets 1992–2008 : Globalization of the Mobility Group
Volkswagen Group The Volkswagen Group employees just under 370,000 people all over the world. 60 production facilities in 21 countries worldwide. 359 group companies that produce vehicles or offer related services. Group Sales revenue up 19.9% y-o-y at €92.5 billion. Operating profit up €3.3 billion on weak prior year period at €4.8 billion. China, Western Europe, North & South America continue driving demand. Group deliveries to customers up 12.9% y-o-y to 5.4 million vehicles; global market share amounts to 11.6%