IT GIVES INFORMATION ABOUT THE THEORY OF DEMAND,ELASTICITY OF DEMAND,KINDS AND DEGREES OF ELASTICITY OF DEMAND , CONSUMER SURPLUS , ENGEL’S LAW OF FAMILY EXPENDITURE
ELASTICITY OF DEMAND
PharmaKhabar is an online platform that provides entire pharma related information, news, and articles at one place.
https://www.pharmakhabar.com/
Elasticity of Demand - Concept and MeasurementsSadia Tasnim
This document discuss concepts of elasticity of demand, types of demand elasticity, How Price elasticity, Income elasticity and Cross elasticity of demand are measured numerically and geometrically and how Income elasticity and Cross elasticity of demand helps to know nature and relation of commodities.
IT GIVES INFORMATION ABOUT THE THEORY OF DEMAND,ELASTICITY OF DEMAND,KINDS AND DEGREES OF ELASTICITY OF DEMAND , CONSUMER SURPLUS , ENGEL’S LAW OF FAMILY EXPENDITURE
ELASTICITY OF DEMAND
PharmaKhabar is an online platform that provides entire pharma related information, news, and articles at one place.
https://www.pharmakhabar.com/
Elasticity of Demand - Concept and MeasurementsSadia Tasnim
This document discuss concepts of elasticity of demand, types of demand elasticity, How Price elasticity, Income elasticity and Cross elasticity of demand are measured numerically and geometrically and how Income elasticity and Cross elasticity of demand helps to know nature and relation of commodities.
In this slid show, we will discuss about different aspects of demand theory. It contains definition, types, determinants, law , different elasticity of demand and measurements of demand. This will be helpful to students of MBS program and others.
The law of demand expresses the functional relationship between price and quantity demanded.
Assumption of ‘ Ceteris Paribus’. A hypothetical assumption
If price of a commodity falls, the quantity demanded of it will rise and vice versa.
Inverse relationship between price and quantity
Other factors also play an important role.
Real world variables.
The indifference curve analysis has also been used to explain producer’s equilibrium, the problems of exchange, rationing, taxation, supply of labour, welfare economics and a host of other problems. Some of the important problems are explained below with the help of this technique.
(1) The Problem of Exchange:
With the help of indifference curve technique the problem of exchange between two individuals can be discussed. We take two consumers A and В who possess two goods X and Y in fixed quantities respectively. The problem is how can they exchange the goods possessed by each other. This can be solved by constructing an Edgeworth-Bowley box diagram on the basis of their preference maps and the given supplies of goods.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
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Similar to BA-I Economics (Demand Analysis)_1590144618.pdf
In this slid show, we will discuss about different aspects of demand theory. It contains definition, types, determinants, law , different elasticity of demand and measurements of demand. This will be helpful to students of MBS program and others.
The law of demand expresses the functional relationship between price and quantity demanded.
Assumption of ‘ Ceteris Paribus’. A hypothetical assumption
If price of a commodity falls, the quantity demanded of it will rise and vice versa.
Inverse relationship between price and quantity
Other factors also play an important role.
Real world variables.
The indifference curve analysis has also been used to explain producer’s equilibrium, the problems of exchange, rationing, taxation, supply of labour, welfare economics and a host of other problems. Some of the important problems are explained below with the help of this technique.
(1) The Problem of Exchange:
With the help of indifference curve technique the problem of exchange between two individuals can be discussed. We take two consumers A and В who possess two goods X and Y in fixed quantities respectively. The problem is how can they exchange the goods possessed by each other. This can be solved by constructing an Edgeworth-Bowley box diagram on the basis of their preference maps and the given supplies of goods.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
2. Meaning of Demand
Demand is defined as the consumer’s willingness
and ability to pay for a good or service per unit of
time at a particular price
Demand of a consumer/household for a particular
good or service is Individual demand and
summation of individual demand is called as
market demand
3. DEMAND FUNCTION
A demand function for a good expresses a causal
relationship between quantity demanded of the
good and its own price. In other words, it is a
functional relationship between demand and
price.
If the good is X , Qx is quantity demand and Px is
the price of good X then the general form of the
demand function will be
Qx = f( Px )
4. Law of Demand
The law states that “other factors remaining the
same”, price and quantity demand of any good and
service are inversely related to each other. When the
price of a good increases, the demand for the same
good will fall and vice-versa.
“Other factors remaining same” means the factors
other than its price do not change i.e. income, the
prices of substitutes and complements, consumer
tastes and preferences and expectations of future
prices etc. remain the same.
5. Law of Demand
Let demand function be:
Qx = f( Px, Pr, I,T, E, Y) where
Qx= quantity demanded of good X
Px= Price of good X
Pr= Price of related goods
I= Income of the consumer
T= Tastes and preferences of the consumer
E= Expectations of price changes
Y= any other changes (economic, social, demographic
factors etc.)
6. Demand Schedule and Demand Curve
The relationship between the price of a good and
the quantity demanded is given by the demand
schedule.
A demand curve / schedule shows the
relationship between price and demand over a
hypothetical range of prices.
8. Why does demand curve slope downwards?
Causes of downward sloping of demand curve:
Law of diminishing marginal utility and equi-
marginal utility
Price effect
Income effect
Substitution effect
Different uses of the good
9. Exceptions to the Law of Demand
Situations under which the law of demand may not hold
true i.e. demand increases with increase in price and it
falls with fall in price:
Articles of distinction like costly jewelery
Expectations of price changes
Ignorance
Emergency situation like war, floods, droughts etc.
Giffen goods
10. Elasticity of demand
Proportionate change in quantity demanded of a good due
to proportionate change in each of the determinants
affecting its demand (its price or income of the consumer
or price of related goods) keeping others as constant.
Ed =
proportionate change in quantity demanded
proportionate change in its determinant
=
∆q
∆p
x
p
q
where ∆ denotes a change and p , q are initial price
and quantity respectively
11. Types of Elasticity of demand
Main three types of elasticity of demand
are:
1. Price elasticity of demand
2. Income elasticity of demand
3. Cross elasticity of demand
12. Price Elasticity of demand
1. Price elasticity of demand (Ep)– It is the degree of
responsiveness of quantity demanded of a good due to a change in its
own price, other things remaining the same.
Ep = -
percentage change in quantity demanded of a good
percentage change in its price
=
∆q
∆p
x
p
q
where ∆ denotes a change and p , q are initial price and quantity
respectively.
Negative sign is ignored due to inverse relationship between price and
demand
13. Price elasticity of demand - Types
Price elasticity of demand is of five types:
a) Relatively elastic demand (Ed >1): If a change in the price will lead to a
larger percentage/proportionate change in the quantity demanded. A
good with a price elastic demand has a relatively flat demand curve
14. Price elasticity of demand - Types
b) Unitary elastic demand (Ed =1): If a change in price leads to the same
percentage/proportionate change in the quantity demanded. The demand curve
for a good with a unit price elastic demand is a rectangular hyperbola
15. Price elasticity of demand - Types
c) Relatively inelastic demand (Ed <1): If a change in the price leads to a
smaller percentage/proportionate change in the quantity demanded. A good
with a price inelastic demand has a relatively steep demand curve
16. Price elasticity of demand - Types
Two Extreme cases:
d) Perfectly elastic demand (Ed=∞): if a small fall in price increases the
quantity demanded infinitely or with a small rise in price, quantity
demanded becomes zero. A good with a perfectly price inelastic demand
has a vertical demand curve.
17. Price elasticity of demand - Types
e) Perfectly inelastic demand (Ed=0): a change in price will not lead to
any change in the quantity demanded. A good with a perfectly price
inelastic demand has a vertical demand curve
18. Income Elasticity of demand
2. Income elasticity of demand (Ey) – It measures the percentage
change in a consumer's purchase of a good as a result of a percentage
change in her/his income, others things like price of the good or related
goods, taste of the consumers etc., remaining the same.
Ey =
Percentage change in quantity demanded
Percentage change in income of consumer
=
∆q
∆y
.
y
q
where ∆ denotes a change and y , q are initial income and
quantity respectively
19. Cross Elasticity of demand
3. Cross elasticity of demand (Ec) – when a price change of a good
leads to a change in demand for another good, other things remaining the
same. It is measured as:
Ec =
Percentage change in quantity demanded of good A
Percentage change in price of good B
=
∆Q𝑎
∆𝑃𝑏
x
𝑃𝑏
Qa
where ∆ denotes a change
Qa = initial quantity demanded of good A
Pb = initial price of good B
If Ec>0 then goods are substitutes
If Ec<0 then goods are complements
If Ec=0 then goods are independent
20. Measurement of elasticity of demand
Four methods to measure elasticity of demand are:
1. Total outlay method
2. Flux’s percentage method
3. Point method
4. Arc elasticity of demand
21. Measurement of elasticity of demand
1. Total Expenditure method: In this method, Ed is
measured on the basis of change in total expenditure
(T.E) in response to a change in price.
• If T.E before and after the price change remains same
then Ed = 1(Unitary elastic demand)
• If T.E increases with fall in price and decreases with
rise in price then Ed>1(Elastic demand)
• If T.E decreases with fall in price and increases with
rise in price then Ed>1(inelastic demand)
23. Measurement of elasticity of
demand
2. Percentage method:
Ep= -
percentage change in quantity demanded of a good
percentage change in its price
=
∆q
∆p
x
p
q
where
∆q = change in quantity demanded
∆p = change in price
p = initial price
q = initial quantity
24. Measurement of elasticity of demand
3. Point method: Also called as geometric method, it
measures elasticity at any point on a demand curve as the
ratio of its lower segment to the upper segment.
Ed =
lower segment of demand curve
upper segment of demand curve
Measurement of elasticity depends upon the nature of
demand curve.
26. Measurement of elasticity of demand
Non-linear demand curve : a tangent is drawn at the point
at which Ed is to be measured and lower segment is
divided by upper segment.
At point R:
Ed =
𝑅𝑇′
𝑅𝑇
27. Measurement of elasticity of demand
4. Arc elasticity of demand: Under this method, Ed is
measured by using average of initial of price and new
price and the initial quantity and new quantity demanded
i.e.
Ed =
𝑄−𝑄1
(𝑄+𝑄1)
2
𝑃−𝑃1
(𝑃+𝑃1)
2
where
Q = initial quantity, Q1 = new quantity
P = initial price, P1 = new price